The House of Representatives on Tuesday queried the viability of further expenditure on the country’s four refineries and the daily allocation of 445,000 barrels of crude to the facilities, The Punch reports.
It queried a fresh bid by the Nigerian National Petroleum Corporation (NNPC) to spend $1.8bn on the Turn Around Maintenance (TAM) of the refineries located in Port Harcourt, Kaduna and Warri. The House noted that the refineries had already gulped more than $20bn on TAM but without appreciable improvement in performance to justify the fresh expenditure.
A motion moved by a member from Ogun State, Mr. Ibrahim Isiaka, described the performance of the refineries as abysmal. He recalled that efforts by the Federal Government to bring private investors on board to build new refineries had also not been successful. Tuesday’s session therefore resolved to determine the current health status of the four refineries by investigating the TAM carried out so far on them.