I believe Dangote is going to buy at least one of them....

The federal government plans to begin the privatisation of four of its state-owned oil refineries before the end of the first quarter of next year, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has said.

“We would like to see major infrastructure entities, such as refineries, moving out of government hands into the private sector,” Alison-Madueke said in an interview with Bloomberg TV Africa in London.

Speaking further, she said: “Government does not want to be in the business of running major infrastructure entities and we haven’t done a very good job at it over the years.”

A presidential audit of the facilities led by a former Minister of Finance, Kalu Idika Kalu, had last year recommended the sale of the refineries due to inadequate government funding and “sub-optimal performance.”

The refineries, which have a combined capacity of 445,000 bpd, should be privatised within 18 months, according to the report submitted to President Goodluck Jonathan in November 2012.
Nigeria, a member of the Organisation of Petroleum Exporting Countries (OPEC), produced 1.99 million barrels per day (bpd) of crude in October.

The refineries are 124,00bpd Warri Refinery, 60,000bpd Old Port Harcourt refinery, 150,000bpd new Port Harcourt refinery and 110,000bpd Kaduna refinery.

A previous attempt in 2007 by the Olusegun Obasanjo administration to sell the Kaduna and Warri refineries was reversed by the next government headed by the late Umaru Musa Yar'Adua.

While Nigeria is also Africa’s top crude exporter and the most populous with more than 160 million people, it relies on fuel imports to meet more than 70 per cent of its needs.

Its state-owned plants operate at a fraction of their capacity because of poor maintenance and aging equipment. The West African nation exchanges 60,000 bpd of crude for products with Trafigura Beheer BV and a similar amount with Societe Ivoirienne de Raffinage’s refinery in Cote d' Ivoire, according to Nigerian National Petroleum Corporation (NNPC).
“We are right now undergoing a major turnaround maintenance programme of the refineries,” Alison-Madueke said.

Improvements to the two-unit, 210,000-bpd Port Harcourt refinery, the country’s biggest, would be completed by the end of the year, to be followed by enhancements at the Warri and Kaduna sites in 2014, according to the NNPC.
Warri has a processing capacity of 125,000 bpd and Kaduna, 110,000 bpd

http://www.thisdayonline.com/

This has made my day...
GEJ keep dishing out surprises to us...very impressive...i wish this had started earlier...anyway better late than never....

This combined with the constitutional confab should stop the feeding bottle federalism.
Thanks

Oil money is lazy man's money.
It's not a prerequisite for progress and development.
Ask Germany, Japan, China or India.

i will hold ma peace until aso rock is up for grabs

Okay............ All we want is progress and development.
BTW, we already know those who are going to buy them......
#TeamSophia

.

The good plans and actions by the FG over the past few weeks are just beyond words.

May God guide d leaders to do the right and the best tins for d nation

We never see outcome of nepa

Good/Bad News

hw much does it cost. i want to buy one for my mother in-law

heat dey kaduna o,please someone help me in inform those on duty at the
private holding company of Nigeria that there is blackout over here

we dnt want anytin oil/oil related tinz down here in the north, kaduna own shld be closed down not privtized....may una keep the oil,

#team 100% resource control

sdqxxx:

your are first to comment

Princess2be: Oil money is lazy man's money.
It's not a prerequisite for progress and development.
Ask Germany, Japan, China or India.

You are very right. But who doesn't want easy money?

DaLover: This has made my day...
GEJ keep dishing out surprises to us...very impressive...i wish this had started earlier...anyway better late than never....

This combined with the constitutional confab should stop the feeding bottle federalism.
Thanks

and you are second

It is better 4 d govt 2 do away wt dis moribond facilities,dat has kept on draining d nations pocket.l think it wud function beta wt private hand handling in a professionally.

tbagjames: hw much does it cost. i want to buy one for my mother in-law

We rey ni

Great news. The birthday gift I've been expecting! Who will buy me a refinery as a birthday gift?

Princess2be: Oil money is lazy man's money.
It's not a prerequisite for progress and development.
Ask Germany, Japan, China or India.

and you are third all other position reserved

Very soon, all ministries and government agencies will be privatised in the name of efficiency. I hope Dangote will be able to acquire the majority.

Ok

1 barrell of crude oil =77usd and we are producing 1.99million barrels per day someone should help me do the arithmetic and tell me how much we make from crude oil annually.Tha[color=#006600][/color]nks

This man wants to sell nigeria and we re just watching...smh for dis country

Elantracey: This man wants to sell nigeria and we re just watching...smh for dis country

Chai miss you dull o.

Sorry, there's no better way to put it.

Rubbish

Elantracey: This man wants to sell nigeria and we re just watching...smh for dis country

Are you sure? That's the best thing to do. Privatisation is the wax to go. Let me educate you. If me and you use our hard earned money to buy the refinery, wouldn't you do your best to manage your property so that you keep making profit? That's the idea.

I am nw beginning 2 hv a breathe of fresh air

horchukoh: 1 barrell of crude oil =77usd and we are producing 1.99million barrels per day someone should help me do the arithmetic and tell me how much we make from crude oil annually.Tha[/color]nks

[color=#000099]production dropped from 2.5mbbd to 1.99bbd this country is a waste, oil price is not 77usdpb.
recycle the problem and the citizens say wow!! presido is working.