The refineries, which are located in Port Harcourt, Kaduna and Warri, have a combined installed capacity of 445,000 barrels per day but have continued to operate far below the installed capacity.
Warri refinery posted a loss of N44.44bn in 2018, compared to N84.60bn in the previous year, while Port Harcourt lost N55.76bn in 2017 and N45.59bn in 2018. “In Nigeria today, we are importing practically every petroleum product that we consume in this country.In the first term of the President, Major General Muhammadu Buhari , the NNPC had planned to rehabilitate the refineries to attain a minimum of 90 per cent capacity utilisation.
Kyari, who took over the NNPC leadership in July 2019, had reiterated his plan to revamp the refineries and end fuel importation by 2023.Kyari said the corporation was pursuing “a different model” for the refineries, including the type used by the Nigeria LNG Limited. He added that upon completion of the ongoing rehabilitation, the services of a company would be procured to manage the plants on an operations and maintenance basis.
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