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Nigerian Refineries Rehabilitation Gulped N100bn In 2021
The Nigerian National Petroleum Company Limited has said it spent N100bn on refineries’ rehabilitation in 2021. In a report disclosed by the agency, the funding performance of the oil firm from January to December 2021, NNPC noted that the funds were pumped into revamping the facilities on a monthly basis last year. Although no refinery…
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NNPC Expects $8.7 Billion Investments From Refineries
The Nigerian National Petroleum Corporation has said that it expects an inflow of about $8.7 billion investment during the rehabilitation of three refineries and revamping of pipelines. This investment is expected form the Warri Refinery and Petrochemical Company (WRPC), the Kaduna Refinery and Petrochemical Company (KRPC), as well as the revamping of some of its…
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The Nigerian Refineries Accountability
In April, NNPC had to shut down all its four refineries to secure funding for their refurbishment. This means that these refineries had not processed almost any crude oil in months. Three refineries in Nigeria cost the country N148 billion in expenses but produced less than 40,000 metric tonnes of crude oil produced only by…