The Nigerian National Petroleum Company (NNPC) Limited has said it spent N100 billion on the rehabilitation of the nation’s refineries in 2021.

The NNPC’s 2021 performance report presented to the Federation Account Allocation Committee (FAAC) meeting disclosed this recently. 

Nigerian Tweeps React As OAP Slams Singer Portable For Embarassing Kenyan WomenProfessor Zulum and his ‘empty seat of power’

The fund, according to the oil firm, was used to revamp the moribund refineries in the country, as N8.3 billion was spent every month for the purpose in 2021. 

The Federal Executive Council (FEC) had approved the sum of $1.5 billion for the rehabilitation of Port Harcourt refinery in Rivers state.

The approval was announced during the 38th virtual FEC meeting presided over by President Muhammadu Buhari in Abuja.

The Port Harcourt Refining Company (PHRC), Kaduna Refining Production Company (KRPC) and the Warri Refining Production Company (WRPC) are all under NNPC management and they have installed capacity of 445,000 barrels of oil per day.

Group managing director of the NNPC, Mele Kyari, had said that Nigeria’s refineries were shut down because their operations were no longer sustainable.

He said that to run Kaduna and Warri refinery, for instance, “you need to deliver 170,000 barrel of oil per day so that both will operate at 70 per cent capacity.”


https://dailytrust.com/nnpc-refineries-rehabilitation-gulped-n100bn-in-2021

Non functioning plant, we are still wasting money

Bubus loot

12rev:
Bubus loot

Corruption eating deep >:

N100bn flushed down the drain to private accounts in Turkey.

Embezzling billions in the name of overhead costs and TAM on refineries that never processed any crude oil. Meanwhile, Buhari failed to fulfil his one-year, one- refinery bogus promise of 2012 after denouncing subsidy but ended up perpetuating the worst corruption ever seen in the cesspool of putrifying corruption called NNPC as petroleum minister.

Wasting billions on useless refineries

Please help us say this to APC: there is God o!

Cantonese:
Please help us say this to APC: there is God o!

Lies are their trade marks

No single litre of product from any of the refineries, yet N100bn down the drain

Sell the refinery as a whole or in parts to ladipo boys or beta still alaoji boys aba , Fg stop wasting money on refinery that won't work.

The same NNPC doing roads.

Ogbodavies:
Sell the refinery as a whole or in parts to ladipo boys or beta still alaoji boys aba , Fg stop wasting money on refinery that won't work.

if dem call Bohla (iron Condemn) people to come nd dismantle the refinery e no go take dem 24hrs before dem run am...


Mak dem just move part of it to Owode mak we share d money...