NNPC to sell non-performing refineries—Kachikwu

Any refinery of the Nigerian National Petroleum Corporation (NNPC) that fails to perform optimally by the end of December may be put up for sale, the

Group Managing Director of the corporation, Ibe Kachikwu, has said.

Kachikwu who disclosed this in Lagos on Friday said as at today, the average refining performance was just 30 per cent.

Read also: NNPC to run as business, not civil service, Kachikwu says

“By the end of December when the 90-day ultimatum will expire, any refinery that does not work optimally will be sold.

“I am determined to make a difference during my tenure. We are losing N2.2 trillion monthly to refinery inefficiency. As at today, the average refining performance is 30 per cent.

“If by December, the refineries don’t work, I will export crude allocation and import refined petroleum products until we fix the refineries.

“Right now, the Port Harcourt refinery is showing signs that it will meet the December deadline.

“However, I am not saying Warri and Kaduna refineries will not meet the deadline, but I hope they all make it, so that we can continue to utilise our crude allocation to boost domestic refining,’’ he said.

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