The Nigerian National Petroleum Company (NNPC) Limited has disclosed that it spent N100 billion on the rehabilitation of the country’s refineries in 2021.
The corporation made the disclosure in the NNPC presentation to the Federal Account Allocation Committee (FAAC) meeting on its funding performance for the year.
The group said it spent N8.3 billion every month in 2021 to revamp the refineries, though it did not mention the specific refineries which were rehabilitated.
Nigeria still imports its refined petroleum products despite the Port Harcourt Refining Company (PHRC), Kaduna Refining Production Company (KRPC) and the Warri Refining Production Company (WRPC) managed by the NNPC have combined installed capacity of 445,000 barrels of oil per day.