VENTURES AFRICA – Of the 42 existing refineries in Africa, Nigeria’s four refineries have been pointed out as the most inefficient, according to a report by the National Refineries Special Task Force (NRSTF), which was established by the oil-rich country’s government to assess the operation of its four underperforming oil refineries and deduce sustainable measures to significantly improve performance following years of fuel importation and subsidy burdens to meet growing energy demands.

According to ThisDay, the NRSTF report which was recently submitted to the Nigerian government reads: [size=15pt]“There are 42 refineries in Africa. Nigeria has four and the third largest combined capacity of 445,000 bpd. The countries with higher number and capacity are South Africa and Egypt, with two refineries each, and corresponding capacities of 545,000bpd and 774,900bpd respectively.

Nigerian refineries have the worst performance record among the 42 refineries, with an average capacity utilization of only 18 percent compared to 81 percent and 85 percent respectively for Egypt and South Africa in 2006-2009.”
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Imported Fuel and Oil Subsidy Scam

Despite being the world’s sixth largest oil producer, and Africa’s largest, Nigeria has struggled to refine its crude following the deterioration of its four refineries, thereby relying primarily on imported fuel to supply its local market. Lack of political will and self interest have been cited as the cause of the prolonged condition of the refineries with oil marketers said to be profiting hugely from the imported fuel.

[size=15pt]Pressured by heavy fiscal burden, President Goodluck Jonathan in January announced (in what led to a nationwide strike) that his government was removing subsidy, leading to a doubling in fuel prices. Overnight, petrol price in Lagos, Nigeria’s commercial hub, escalated from 67 naira per litre to 150 naira (less than $1).[/size]

The government, however, conceded its stand after a week long strike, and launched a probe into the oil marketers, after considering the outrageous expense acquired from the subsidy bill. The probe revealed a multi-billion naira scam. So far, some arrests have been made.

Sustainable Measures

The former Minister of Finance, Dr. Kalu Idika Kalu-led committee, recommended that an experienced and strongly capitalized, privately managed refinery system with minimal government intervention will suffice in reviving the country’s refining industry.
According to the report, [size=15pt]“The NRSTF is of the opinion that only drastic and far-reaching measures will successfully turn around the refineries. To this end, it recommends that majority shareholding, a minimum of 51 percent in the three NNPC refineries should be divested to the private sector, in accordance with subsisting legislation, as in the Public (Privatisation and Commercialisation) Enterprises Act 1999.”[/size]

Nigeria’s four refineries are managed by state-owned corporation NNPC. Two of the refineries are located in Port Harcourt (PHRC), and one each in Kaduna (KRPC) and Warri (WRPC). A comprehensive network of pipelines and depots strategically located throughout Nigeria links these refineries.


http://www.ventures-africa.com/2012/11/nigerias-refineries-rated-worst-in-africa/

Average capacity utilization:

Nigeria: 18%

Egypt: 81%

South Africa: 85%


Nigeria ==> Giant of Africa

Did some of us not say that GEJ was capitulating to corruption and cronyism by conceding Refineries into the inept and irredeemably corrupt hands of the unreformed NNPC for two years? Was it not the same with his "leaner government not possible announcement"? I.e another cynical action to ensure 'awon boys' remained comfortable?

When will people begin to understand what this man truly is? What would warrant such an insane decision , regarding our refineries, if not that GEJ is dedicated to abetting the corruption that perpetuates loopholes and inefficiencies everywhere to the benefit of a few and to the detriment of Nigeria? His actions are now translating into documented failures sane folks cannot deny.

*Ileke-IdI:
Average capacity utilization:

Nigeria: 18%

Egypt: 81%

South Africa: 85%


Nigeria ==> Giant of Africa

What's with the ''Giant of Africa'' stuff?? I've not seen GEJ or anyone in power or out of it going around claiming ''Giant of Africa''. Nobody's saying that except you!

SHUT UP! BUHARI WROTE THIS ARTICLE. TINUBU OWNS THISDAY NEWSPAPER. FRESH HAIR! FRESH HAIR! GEJ IS WORKING!

I know this is true in all ramifications, if Venezuela can boast of 17 working refineries as at year 2000, then what excuse do we have funny country!!!

IDGAF!!

why am i not suprised!!!??

eledalo: SHUT UP! BUHARI WROTE THIS ARTICLE. TINUBU OWNS THISDAY NEWSPAPER. FRESH HAIR! FRESH HAIR! GEJ IS WORKING!

May GOD bless you.

To those who think Nigeria is serious about combating the gross corruption in our Oil Industry, I am saying it out loud to them all that they should think again. This same U.S, whose system of government, democracy, we claim to practice (of course, this is no real democracy), had over 500,000 manufacturing firms as at 1990 while Nigeria had 3,200 as at 1992. The United States had over 14 million businesses in total as at 1990 while the few ones we had are begging for serious financial assistances. The year 1976 saw the United States receiving 39% of business employments through its small businesses industry and from 1969 – 1976, about 16 million new jobs were created. The breakdown: 1,000 largest corporations created one million jobs; state and local governments created three million jobs while the remaining 12 million jobs were created by small businesses. Now imagine what this arrangement will be generating for Americans today. In Nigeria, these small-scale businesses that we ought to give support to are neglected by the designated institutions (Micro-Finance Banks) for frivolous activities, little wonder unemployment rates has risen to an unbearable rates in Nigeria! Everybody knows that the case of our age-long, moribund refineries could be linked to greed, personal aggrandizement, monopoly of power and status which all stem from corruption. The time to build more refineries had long been wasted and under-utilized. Still on the United States, the 1,500 refineries they possessed as at 1990 were largely owned by private hands – sign of entrepreneurship! Our governments are fond of heaping the blames of their poor performances in governance on our large population. We all know that Indonesia, Malaysia, Singapore, India and Thailand are nations with smaller and bigger populations when compared to ours; yet, they encourage information technology (the case of India), small-scale industrialization (as seen in Singapore and Indonesia), and tourism (as seen in Malaysia and Thailand). Truly, all these factors had put them at an edge over their past economic woes and the fact is that they don’t have the myriads of resources we possess!

Hmmmm. Some member of the opposition is beside this report. We shall exposure them soon...DPJ

why wnt that happen..
One tin had to give way 4 d other..
Pdp had to kill refinery for cabals (pdp election sponsors and candidates) to import refined product for nigeria.. Suffering and smiling..

Time to go and breathe sum fresh air.. With my kasafa bread (in ibadan man tone)

*Ileke-IdI:
Average capacity utilization:

Nigeria: 18%

Egypt: 81%

South Africa: 85%


Nigeria ==> Giant of Africa

yea giant of redundancy

GARRI (x7):
Hmmmm. Some member of the opposition is beside this report. We shall exposure them soon...DPJ

Indeed. venture-africa.com is co-owned by Tinubu, Buhari, El-rufai, Atiku, IBB and many known enemies of Government sworn to stopping the greatest performer and most cerebral mind in Nigeria from delivering on behalf of the people.

We need a revolution in this country!!!!

There is still room for improvement.

But we need private sector participation in refinery industry. Government has demonstrated its inability to be on top of the situation in this sector!

What are oil companies doing? Can't they have private refineries? Can't F.G advise the likes of Agip, Mobil,Julius Berger etc to construct refineries and recoup their money after production starts?

I may be wrong anyway,since they pay tax!

Gbawe: Did some of us not say that GEJ was capitulating to corruption and cronyism by conceding Refineries into the inept and irredeemably corrupt hands of the unreformed NNPC for two years? Was it not the same with his "leaner government not possible announcement"? I.e another cynical action to ensure 'awon boys' remained comfortable?

When will people begin to understand what this man truly is? What would warrant such an insane decision , regarding our refineries, if not that GEJ is dedicated to abetting the corruption that perpetuates loopholes and inefficiencies everywhere to the benefit of a few and to the detriment of Nigeria? His actions are now translating into documented failures sane folks cannot deny.

How can you be this daft? The report referenced 2006-2009. Was GEJ President then ? Channel your hate to the right people.

Let's call a spade a spade, Nigeria is gradually falling behind. Regardless of who wrote it and who owns the paper, are the figures quoted on there wrong?

Billyonaire: How can you be this daft? The report referenced 2006-2009. Was GEJ President then ? Channel your hate to the right people.

You're even more daft if you believe we've grown pass our 18% cap. utilization.

Was reforming the refinery not one of GEJ's 70 promises? (correct me if I'm wrong). Has GEJ made any move to upgrade our refineries?

manny4life: Let's call a spade a spade, Nigeria is gradually falling behind. Regardless of who wrote it and who owns the paper, are the figures quoted on there wrong?

This "news" is all over various newspaper, so let's focus on the facts and less on the messenger.

IT IS A WELL KNOWN FACT THAT THIS WEBSITE IS OWNED BY TINUBU, OPERATED BY EL RUFAI, FINANCED BY BUHARI, EDITED BY OSAMA BIN LADEN AND WAS INSPIRED BY HITLER AND IDI AMIN. PLEASE MY PEOPLE SHINE YOUR EYES. GEJ HAS PERSONALLY ASSURED ME THAT THE REFINERIES ARE WORKING AT 101.5% CAPACITY. HE JUST SENT ME A BB MESSAGE, PLEASE I DEY COME.

naija which way forward ni

manny4life: Let's call a spade a spade, Nigeria is gradually falling behind. Regardless of who wrote it and who owns the paper, are the figures quoted on there wrong?

Nigeria fell behind a long time ago. It will take the backing of the masses to take down the powerful elements behind the cartels. The masses are not yet ready to know truth that with the Presidency needs our unalloyed support. Let's begin with total deregulation.With subsidy, no private player will venture his funds into refining, and we will be where we are until that is done!

Billyonaire: How can you be this daft? The report referenced 2006-2009. Was GEJ President then ? Channel your hate to the right people.

Sad sap. Were you not aware of how one of the first actions of GEJ , after winning the election, was to consign our Refineries into the hands of the NNPC for "turning around" over a 2 year period? Who does not know that the NNPC is perhaps the most corrupt and most inefficient government parastatal in Africa capable of delivering only failure? Why would "fresh air" and the "transformational crew" continue down the failed route?

I don't know why folks like you, of ostensibly poor intellect, continue to attack others with insult when all you have in your armoury is the usual excuse that the problem began before GEJ. Are you so dumb you don't realise that many acknowledge that fact while also pointing to how GEJ is worsening things with his senseless actions? All we get from GEJ are actions that don't make sense plus perpetuate discredited processes and avenues of corruption that prop-up the deleterious status-quo. Yet charlatans like you see "reform". Any improvements in our refining capacity since GEJ put NNPC in charge? 2006-2009 indeed. Olodo.

ROSSIKE:

What's with the ''Giant of Africa'' stuff?? I've not seen GEJ or anyone in power or out of it going around claiming ''Giant of Africa''. Nobody's saying that except you!

giant of africa in terms of population.. Anytin else is zero

*Ileke-IdI:


You're even more daft if you believe we've grown pass our 18% cap. utilization.

Was reforming the refinery not one of GEJ's 70 promises? (correct me if I'm wrong). Has GEJ made any move to upgrade our refineries?

What will it take to make you well-lettered to always focus on subjects of threads instead of meandering off points. Take your emotions out and you will be okay.

Not suprised at all.
Anything the Nigeria government provides would always rate worst in the commity of nations.

Gbawe:

Sad sap. Were you not aware of how one of the first actions of GEJ , after winning the election, was to consign our Refineries into the hands of the NNPC for "turning around" over a 2 year period? Who does not know that the NNPC is perhaps the most corrupt and most inefficient government parastatal in Africa capable of delivering only failure? Why would "fresh air" and the "transformational crew" continue down the failed route?

I don't know why folks like you, of ostensibly poor intellect, continue to attack others with insult when all you have in your armoury is the usual excuse that the problem began before GEJ. Are you so dumb you don't realise that many acknowledge that fact while also pointing to how GEJ is worsening things with his senseless actions? All we get from GEJ are actions that don't make sense plus perpetuate discredited processes and avenues of corruption that prop-up the deleterious status-quo. Yet charlatans like you see "reform". Any improvements in our refining capacity since GEJ put NNPC in charge? 2006-2009 indeed. Olodo.

You do have a lot of free time on your schedule to spin lies, sentiments and off-radar songcry. Let me reiterate. Report referenced 2006-2009; GEJ wasn't President then, except you are still high on crack

Here comes 'privatization' and un-subsidized fuel.
This report is setting the stage for another round of purchases by the very people who supervised the wrecking of the refineries. Just like they have bought all the power stations, after similar damning reports.

The Nigerian comedy continues

so_icy_boi: IDGAF!!

me too

But wait Oo, I think I do

Demdem: Na wa oooo. See where the killer party has led us to
The refineries till date are still in bad shape.

ah ahh! Oh yeah that's part of avalanches of GEJ's achievements!