Warri, Kaduna, Port Harcourt Refineries Owe NNPC N8.3trn Amid N264bn in Fresh Loans

The Nigerian National Petroleum Company (NNPC) Limited has said that debt from the Kaduna, Warri and Port Harcourt Refineries to the company rose to N8.31 trillion at the end of 2025, even as it extended about N264.4 billion in fresh loans to the three plants during the year.
The disclosure was made in the company’s 2025 audited financial statements. They show that the Port Harcourt Refining Company owed N4.03 trillion, Kaduna Refining and Petrochemical Company N2.31 trillion, and Warri Refining and Petrochemical Company N1.97 trillion.
The combined balance was N8.67 trillion a year earlier, a fall of about N360 billion, or 4.2 per cent. The report does not say what drove the decline....