FG May Sell Warri, Kaduna Refineries

There are indications that the Federal Government will sell two of its three crude oil refineries that are found to have become commercially unviable as part of measures to boost the nation’s refining sector.

The two refineries likely to be sold, according to a report of the Nigerian National Petroleum Corporation obtained by Punch correspondent on Friday, are the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company

The NNPC said last week that the consolidated capacity utilisation of the three government-owned refineries dropped to 23.09 per cent in May, from 24.59 per cent in April.

The third refinery being managed by the NNPC is the Port Harcourt Refining Company.

Punch, July30, 2017