Nigeria needs $500m to repair refineries' - Dr. Ibe Kachikwu
ikwu
According to the Group Managing Director of the Nigerian
National Petroleum Corporation, Dr. Ibe Kachikwu, the Federal Government
needs about $500m to fix the nation’s crude oil refineries which have
all been shut down. This he revealed at a forum organised by the
Petroleum Club Lagos to celebrate his recent appointment as the NNPC
GMD.
According to Dr. Kachikwu, the Port Harcourt Refinery,
which was refining crude some weeks ago had stopped working and had
since been shut down. Meanwhile, the Warri and Kaduna refineries still
remain shut.
He said, "I was initially happy with the progress made at
the Port Harcourt Refinery when it operated at 60 per cent capacity some
weeks ago. But now, the capacity has dropped so low that we had to shut
it down. We will need about $500m to fix them."
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