He disclosed this to State House Correspondents at the end of the three-day retreat at the Presidential Villa.
Despite substantial investments of over $25 billion in the past decade, the refineries were operating at less than 30% of their capacity, as reported by the 9th National Assembly. The committee’s goal is to examine the best strategies for commercializing and ensuring profitability of the state-owned refineries, involving the Federal Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission , NNPCL, and the Bureau of Public Enterprises.
He continued by outlining the progress in various phases of rehabilitation, stating, “For Warri refinery, they said Phase 1 will be ready by the end of the year.
Source: News Formal (newsformal.com)
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