NNPC spends N109bn on refineries rehabilitation, pipelines in 9 months

The Nigerian National Petroleum Corporation (NNPC) has disclosed that from January to September a total of N109.85 billion was spent on refineries rehabilitation and pipelines in the first nine months of 2021.

NNPC gave the figures in its latest operations report for October obtained by Ripples Nigeria on Monday.

Over the years, there have been public outcry concerning the expenditure that are incurred by refineries that are moribund, this forcing authorities to import refined petroleum products.

According to NNPC data, N34.85 billion went into pipeline security and maintenance while N75 billion was for the rehabilitation of unused refineries.

Providing a breakdown on refineries rehabilitation cost, NNPC noted that monthly N8.33 billion was committed.

NNPC currently has four idle refineries, two in Port Harcourt (PHRC), and one each in Kaduna (KRPC) and Warri (WRPC).

However, since 2019, none of the refineries has been able to refine a drop of fuel, hence the country relies entirely on imports to satisfy demands.

However, NNPC disclosed no expenses in January but spent N5.81 billion on pipeline security and management in February.