shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Senate Probes NNPC Over Ailing Refineries

Senate Probes NNPC Over Ailing Refineries

by Joshua
February 3, 2020
in Uncategorized

The Senate has mandated its Committee on Downstream Petroleum Sector to carry out a holistic investigation on the turnaround maintenance expenditure and current state of the refineries in the country.

The resolution was sequel to a Point of Order raised by Sen. Yusuf Yusuf during plenary.

It also mandated the committee to convoke a stakeholder’s conference with aim of finding best way to revamp ailing refineries in order to favorably compete in the international market within the shortest period of time.

The Senate also urged the Nigerian National Petroleum Corporation (NNPC) to completely evaluate the dilapidated state of the refineries or total overhauling and rehabilitation to international standard.

This, it said would save the country from further wastage of its meager resources.

Raising the point of order, Yusuf said that the NNPC had four refineries; two in Port Harcourt, one each in Kaduna and Warri with a combined capacity of 444,000 barrels per day.

He said that the refineries were established to adequately supply and serve the need for the required petrol, gas, Premium Motor Spirit among others for both local consumption and export for maximum profit.

“The country through NNPC has in the past 25 years spent billions of dollars in turnaround maintenance of the refineries; the latest being over 365 million dollars spent between 2013 and 2015 without any meaningful result.

“The Senate is dismayed that the refineries have remained in the moribund state in the last 15 to 20 years.

“It is almost reaching total collapse due to lack of maintenance of the facilities with a poor average capacity utilisation hovering between 15 per cent and 25 per cent per annum.

“NNPC recently announced as published by the Punch Newspaper of Thursday, Jan.23, a cumulative loss of N123.25 billion in 10 months, Jan. to Oct. 2019 putting the total revenue of the facilities at N68.82 billion.

“While the total expenses incurred was N192.1 billion within the same period.”

Yusuf expressed worry that such wastages as leakages amidst the nation’s tight economy if not addressed would lead the country back to recession.

“Such losses, when averted and combined with the huge expenditures in “under recovery” on fuel pump price and properly channeled into full rehabilitation and construction of modern refineries would positively impact on the economy.

“It will also save the country from the embarrassment of importation of petroleum products and its ripple effect.”

In his contribution, Sen. Ibikunle Amosun who supported the motion said one of the problems the country was facing was lack of maintenance culture.

He said it was not the first time attention was drawn to the near collapse of the refineries in the country and urged his colleagues to do a thorough job during the investigation process.

In his remarks, President of the Senate, Ahmad Lawan said the Petroleum Industry Bill (PIB) would be worked upon in February.

 


Related Posts

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

June 30, 2025
Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024

Discussion about this post

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition