N264bn spent in ‘maintaining’ 4 refineries in 16 years, but nothing to show for it—Report
New report released in Abuja has revealed that contrary to earlier claims that the four refineries were not maintained within the 16 years of former ruling party, about N264 billion was expended on them but they suffered epilepsy due to corruption.
Otherwise, documents sourced from the Nigerian National Petroleum Corporation (NNPC) indicated that N264 billion were expended for maintenance and repairs of the refineries in 16 years starting from 1999.
The report revealed further that the national assets including Port Harcourt Refining and Petrochemical Company (PHRC); Warri Refining and Petrochemical Company (WRPC) and Kaduna Refining and Petrochemical Company (KRPC) are expected to have new investors by September 2017, they have been in comatose after many years of neglect; lack of turnaround maintenance and corruption rendered them epileptic or far below the nameplate capacity of 445,000 barrels per day.
Again, the PHRC is 210,000 barrels per day complex conversion plant, which can produce Liquefied Petroleum Gas, (LPG), Premium Motor Spirit, (PMS), Dual Purpose Koresene, (DPK), Automative Gas Oil, (AGO), Low Pour Fuel Oil, (LPFO), and High Pour Fuel Oil, (HPFO).
Besides, the Warri refinery is a 120,000 barrels per stream day plant capable of producing LPG, PMS, AGO, DPK and fuel oil from a blend of Escravos and Ughelli crude oils. Kaduna refinery is 110,000 barrel per day plant, which produces LPG, PMS , house good koresene, (HHK), Aviation Turbine Koresene, (ATK) AGO And fuel oil.
