Federal Government Need $1.2Billion For NNPC Refineries

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The Nigeria Minister of State for Petroleum Resources, Ibe Kachikwu said the Federal Government in needs of $1.2 billion to repair three refineries of the Nigerian National Petroleum Corporation (NNPC).
He said this at news conference in Abuja on Thursday, reporting that the Port Harcourt refinery will be conceded to Oando and Agip companies.
According to Mr. Kachikwu, the committee established for the purpose of selection had not yet submitted its report.
“We have not selected any firm yet even though some firms have shown interests,” he said.
“We need about 1.2 billion dollars to repair and bring the three refineries of the Nigerian National Petroleum Corporation (NNPC) in Port Harcourt, Warri, and Kaduna, up to 100 percent production level.”
He added, “The total cumulative amount is in the 1.1 billion dollars and 1.2 billion dollars category between all the refineries. And that, of course, does not include the pipelines.
“You have got to address the pipelines and that is something else that is being done.”

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