Nigeria’s obsession with owning refineries is counter-productive

The Nigerian government’s obsession with owning and running refineries is costing the country an average of N10 billion monthly, without producing any petroleum products despite several so-called Turn-Around-Maintenance (TAM) activities announced in the past. For the umpteenth time, Africa’s biggest oil producer is attempting again in 2021 to get its refineries working, with the objective…

Will Nigeria’s refining renaissance happen in 2021?

For the umpteenth time, Nigeria is trying yet again in 2021 to get its refineries working in an attempt to wean itself off imported fuel. Africa’s biggest oil exporter is dependent on imported petrol, despite never-ending rehabilitation and turnaround maintenance. Now in 2021, the state-run energy company is giving it another shot that, if successful,……

Govt should not own, run Refineries, Osinbajo says

The Vice President, Prof. Yemi Osinbajo, has said the problems associated with Nigeria’s refineries will persist if the Federal Government continues to own and run them. READ ALSO: Refineries will be fixed with money saved from subsidy removal – FG Daily Times Nigeria gathered that Osinbajo said this at a virtual meeting organised for the…

Refineries’ rehabilitation: Fresh or old story?

When the federal government announced an increase in the price of petrol, there was outrage across the country, considering the fact that Nigeria is a major oil producer. However, with plans to rehabilitate the nation’s moribund refineries, analysts believe there could be hope in the horizon; BENJAMIN UMUTEME reports. When in 1959, oil was discovered…

Plans on to maintain four refineries — NNPC chief, Kyari

By Udeme Akpan & Nkiruka Nnorom ABUJA—The Nigerian National Petroleum Corporation, NNPC, Thursday, said it has concluded plans to rehabilitate and build new plants, as all the four refineries are currently down, thus forcing the government to import petroleum products from the global market. The Group Managing Director, NNPC, Mallam Mele Kyari, made the disclosure…

NNPC to establish 200,000bpd condensate refineries

The Nigerian National Petroleum Corporation (NNPC), will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados and… The post NNPC to establish 200,000bpd condensate refineries appeared first on Daily Times Nigeria . Nigeria News from Nigeria Newspapers Find more latest news and headlines from the newspaper

High cost of Nigeria’s refineries’ ineptitude

Nigeria, Africa’s biggest crude exporter, spent N879.781 billion on fuel import in just three months, an amount that could have been saved but for gross inefficiency of refineries in the country. Adeola Yusuf writes     It started with the revelation that the worth and cash spent by the Nigerian National Petroleum Corporation (NNPC) to…