No privatisation of refineries, JV assets yet, says BPE

Thu Feb 13th, 2020 - Nationwide

• Projects over N266.852b from sale of NIPPs, others

There are no plans yet to privatise Nigeria’s ailing refineries, at least not for the 2020 fiscal year, meaning that the importation of refined products with the attendant subsidy cost, which has eaten up so much of revenue meant for distribution amongst the three tiers of government, will remain.

The Nigerian National Petroleum Corporation (NNPC), operators of the nation’s four refineries with a combined template of 445,000 barrels per day (b/d), put their output at a mere 5.55 percent as at May last year.




source: Guardian