Nigeria is in talks with a Chinese company to operate its large-scale refineries, Bloomberg reports, as the nation continues to spend billions attempting to revive plants that have struggled for decades. The four NNPC facilities have a combined capacity of 445,000 barrels a day but have processed minimal crude despite repeated rehabilitation efforts.

NNPC Chief Executive Officer Bayo Ojulari said on Wednesday that he had met with a potential investor, which he declined to identify, noting only that the firm operates one of the world’s largest petrochemical plants. The company was scheduled to inspect an NNPC refinery on Thursday. Ojulari added that the strategy involves bringing in partners with proven refinery-operating experience and selling part of the state’s stake to ensure “they have a skin in the game.”

The aging condition of the refineries has raised skepticism about investment prospects. Clementine Wallop, director for sub-Saharan Africa at political-risk consultancy Horizon Engage, cautioned that “potential investors should not expect an easy road or a quick return” and highlighted that Aliko Dangote, Africa’s richest person, has compared the NNPC plants to a “40-year-old car.”

Any new operators would face competition from Dangote’s 650,000 barrel-a-day refinery, which already exceeds local fuel demand and is planned for expansion. China’s involvement would mark its first investment in Nigeria’s large-scale refining sector, complementing existing Chinese participation through companies such as Sinopec and CNOOC in deepwater and onshore oil leases. Beijing has also committed $24.6 billion to a gas park in Delta State under the Belt and Road Initiative.

Ojulari attributed past failures to NNPC’s limited operational capacity and said the company’s board-approved strategy prioritizes attracting experienced partners capable of efficiently running the refineries.