Business
NNPC How Much Was Spent On Refineries’ Rehabilitation In 2021
The Nigerian National Petroleum Company (NNPC) Limited has said that it spent N100 billion on the rehabilitation of the nation’s refineries in 2021.
The disclosure was made in the Nigerian National Petroleum Corporation (NNPC) presentation to the Federation Account Allocation Committee (FAAC) meeting on its funding performance for the year.
Though the specific refineries which was rehabilitated were not disclosed, however the group said it spent N8.3 billion every month in 2021 to revamp the refineries.
While the Port Harcourt Refining Company (PHRC), Kaduna Refining Production Company (KRPC) and the Warri Refining Production Company (WRPC) which the NNPC manages has a combined installed capacity of 445,000 barrels of oil per day, Nigeria still imports its refined petroleum products.
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