The Nigerian National Petroleum Company limited (NNPCL), according to its August 2022 FAAC report, spent the sum of N54.663 billion on rehabilitating refineries in the country between January and July 2022.

The highest amount was spent in June, when the sum of N18.221 billion was spent on rehabilitating refineries.

Despite these investments in the health of refineries, Nigeria’s refineries have continued to suffer a mysterious ailment that has defied the billions spent on them. The refineries’ outputs remain low.

Warri refinery, Kaduna refinery and Port Harcourt refinery are some of the major refineries in the country. These three refineries have a combined capacity of producing over 400,000 Barrels per day but have failed to live up their capacity for years.

Nigeria still relies heavily on refined petroleum importation to meet its daily needs, and the failure to refine crude at home has left the country at the mercy of international market forces and allowed the ball and chain of subsidy to remain, gulping huge revenue that is not justifiable compared to the income of the sale of crude. Between 2015 and 2019, Nigeria spent a sum of $37.85 billion dollars on petroleum importation.

DataphyteSEO:
by Olanrewaju Oyedeji


https://www.dataphyte.com/latest-reports/finance/nnpcl-has-spent-n54-billion-on-its-ever-ailing-refineries-in-seven-months/

DataphyteSEO:
by Olanrewaju Oyedeji


https://www.dataphyte.com/latest-reports/finance/nnpcl-has-spent-n54-billion-on-its-ever-ailing-refineries-in-seven-months/

nkemoma:
God punish Yusufu Buohari Papa...

And the congregation should say Amen

DataphyteSEO:
by Olanrewaju Oyedeji


https://www.dataphyte.com/latest-reports/finance/nnpcl-has-spent-n54-billion-on-its-ever-ailing-refineries-in-seven-months/

Millions of people are slipping into poverty by the passing of each day.

And these people still have the heart to mismanage our commonwealth.

Simply because they know they'd always get away with the act.


Humanity has gone to the dogs.