The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has stated that the federal government might sell the country’s refineries as scrap metals in a few years time if the Nigerian National Petroleum Corporation (NNPC) did not sit up and make the refineries to become functional, THISDAY reports.
The NNPC’s latest financial report for May 2017 showed that the consolidated capacity utilisation of the three refineries declined from 24.59 per cent in April 2017, to 23.09 per cent in May. In a remark during a facility tour of Dangote Refinery in Ibeju-Lekki area of Lagos, Kachikwu disclosed that the country might end up selling the refineries as scrap metal in a matter of years if the NNPC did not sit up to rehabilitate the plants.
Kachikwu said “I said it in very many speeches that if our own refineries do not sit up, we probably, would be selling scrap metals in a matter of years and that is the reality. So, what this project has also done is motivated substantially, the NNPC because to take very seriously my drive to repair the refineries and get them working.”