NNPC refineries generate zero revenue, pay workers N69bn
Workers at the government-owned refineries were paid a total of N69.07bn last year, even as the plants generated zero revenue as they did not process a single barrel of crude oil.
Tag: Refineries
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Nigerian refineries idle for 19 months, record N177.21bn loss
In 19 straight months of not processing any barrel of crude oil, the government-owned refineries in Nigeria recorded a total loss of N177.21bn, the latest data from the Nigerian National Petroleum Corporation have shown.
Nigeria’s $26.5bn maintenance cost enough to build three new refineries
The whopping sum of $26.5b, which the Federal Government has so far spent on the maintenance of its loss-making 445, 000 barrels/day capacity refineries, is capable of building three new refineries of the same size going by the cost analysis of refinery projects across the world.