The present four refineries in Nigeria will likely to be controlled by private organisations if words of a presidential aide, Adeyemi Dipeolu, are anything to go by.
Dipeolu noted that the Federal Government will privatize its four ailing refineries before the end of this year in order to boost domestic fuel supply after abolishing payment of costly subsidy on imports.
According to Dipeolu, “The federal government will set a time frame for the privatization of [state-owned] refineries before the end of this year.”
He added that, “As part of the deregulation of the downstream oil and gas sector, the federal government will set a deadline for the country to be self-sufficient in refined petroleum products and become a net exporter of some.”
The present four refineries are operated by the Nigerian National Petroleum Corp, NNPC, which are the 125,000 b/d Warri refinery, the 110,000 b/d Kaduna plant and two other refineries at Port Harcourt with combined capacity of 210,000 b/d.
