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Nigeria's $1.5 Refinery Upgrade Doomed To Failure - Politics - Nairaland

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Nigeria's $1.5 Refinery Upgrade Doomed To Failure by Aconomist: 2:36pm On Mar 20, 2021
The Nigerian government is spending $1.5 billion naira to repair non-functional NNPC refineries. This is a terrible waste of resources that is doomed to fail, according to the Paris-based International Energy Agency: https://punchng.com/nigerias-plan-to-repair-refineries-may-fail-says-iea/

They state the following:

The start-up of the 650 kb/d refinery in Lekki, Nigeria, expected in the next three years, will mark a turning point in the continent’s refining fortunes. At the same time, the plans to repair and re-launch the country’s three existing refineries that have not been operating in the recent years, are unlikely to materialize.

According to the agency, smaller refineries might be better suited for Africa, where investors and operators are constrained in terms of cash flows and working capital.
Re: Nigeria's $1.5 Refinery Upgrade Doomed To Failure by oghalebros(m): 2:43pm On Mar 20, 2021
Our refineries are like dead horse. No amount of money spent on it will bring it back to life... Abeg make them sell them.
Re: Nigeria's $1.5 Refinery Upgrade Doomed To Failure by SarkinYarki: 2:45pm On Mar 20, 2021
Trust me even one nut or bolt won't be bought ...trust me
Re: Nigeria's $1.5 Refinery Upgrade Doomed To Failure by chatinent: 2:49pm On Mar 20, 2021
Any sum of money allocated to it has been post-looted.

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