- The Nigerian National Petroleum Corporation (NNPC) has said it will sell refineries that fail to work optimally by the expiration of the December deadline.
- NNPC Group Managing Director, Dr. Ibe Kachikwu, disclosed this at an interactive session with newsmen in Lagos.
- Kachikwu said, “By the end of December when the 90-day ultimatum will expire, any refinery that does not work optimally will be sold.
“I am determined to make a difference during my tenure. We are losing N2.2 trillion monthly to refinery inefficiency. As at today, the average refining performance is 30 per cent.
If by December, the refineries don’t work, I will export crude allocation and import refined petroleum products until we fix the refineries.
Right now, the Port Harcourt refinery is showing signs that it will meet the December deadline.
However, I am not saying Warri and Kaduna refineries will not meet the deadline, but I hope they all make it, so that we can continue to utilise our crude allocation to boost domestic refining.’’