The Nigerian Senate has raised concerns over the $1.5 billion approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery, citing little to no results. Senator Opeyemi Bamidele, Chairman of the Senate Ad Hoc Committee, expressed these concerns during an interactive session with stakeholders in Abuja.
*Billions Spent, Refineries Still Not Functioning*
Despite billions of dollars spent on maintenance and turnaround efforts, government-owned refineries in Kaduna, Port Harcourt, and Warri remain dysfunctional. The Senate Leader emphasized the unfair treatment of public companies compared to thriving private businesses.
*NNPC CEO Defends Company’s Progress*
In response, NNPCL’s Group Chief Executive Officer, Mele Kyari, refuted claims of sabotaging domestic refinery operations. He highlighted the company’s progress from a loss-making entity to a profit-making one and attributed negative media coverage to calculated attacks.
*Nigeria’s Refinery Challenges Persist*
Nigeria’s four state-owned refineries have been moribund for years, despite billions spent on maintenance and rehabilitation. The lack of functional refineries forces Nigeria to rely heavily on imported refined petroleum products, impacting the economy. The NNPC boss recently assured that the Port Harcourt refinery will commence operations in December, but previous deadlines have not been met, raising skepticism.