The glaring security challenge cannot be overlooked in considering a major power plant project in Borno State.
The NNPC boss pointed out that there are huge investment opportunities in the downstream sector, especially in pipeline and depot rehabilitation.
The President noted that the NLNG has generated $114 billion in revenues over the years.
With the paucity of funds the government faces, the spending of $1.5 billion on a refinery should be at the back burner.
Operating revenue of the NNPC Group in December 2020 as compared to November 2020 increased by 33.44% or N137.00billion to stand at N546.65billion.
The NNPC has defended FG's decision to expend the huge sum of $1.5 billion in rehabilitating the Port Harcourt refinery.
Afreximbank has insisted that NNPC will not operate and manage the refinery upon completion of the rehabilitation work.
The FG has disclosed how it intends to raise the $1.5 billion for the rehabilitation of the Port Harcourt refinery.
We are in a country where the subsidy on petrol prices is seen as the only source of social security.
The NNPC has said that it has no plans to increase the ex-depot price of petrol in March 2021.
