Warri Refinery Contractors Face Foreclosure Threat Over Unpaid Projects

Contractors who carried out projects for the Warri Refining and Petrochemical Company (WRPC) have raised concerns over outstanding payments for jobs completed at the facility, saying the delays have pushed many of them to the brink of financial collapse.

The contractors said several projects executed since 2024 were completed according to approved specifications and certified by relevant authorities, yet payments remain unsettled months after delivery.

In a joint statement, the affected firms said they have exhausted several channels in pursuit of payment, including formal correspondence with officials of the Nigerian National Petroleum Company (NNPC) Limited, without success.

According to them, the prolonged delay has left contractors struggling to service loans obtained to finance the projects, while pressure from banks and other lenders continues to mount.

“The failure to pay for these completed contracts is placing enormous pressure on contractors who sourced funds to execute the jobs,” the statement said.

The contractors revealed that some financial institutions have begun taking steps to recover loans tied to the projects, with assets pledged as collateral now at risk.

They added that promissory notes issued in connection with the contracts have done little to ease the situation, as creditors continue to demand repayment of outstanding facilities.

“Our financiers are threatening to dispose of properties used as collateral because several repayment commitments have elapsed without funds being released,” they stated.

The contractors warned that they may stage a peaceful protest if urgent steps are not taken to address the matter, insisting that the action is intended to draw attention to the challenges confronting affected businesses.

They appealed to the management of the refinery and relevant authorities to facilitate the settlement of the outstanding obligations, noting that the delays have disrupted business operations and placed heavy burdens on their families.

Efforts to obtain comments from officials of the Warri refinery were unsuccessful as of press time, with management members said to be engaged in a meeting.