Nigeria: NNPC Refineries May Never Work Again Despite $18bn Spent

NNPCL hints at possible sale of Nigerian refineries

The Nigerian National Petroleum Company (NNPC) Limited has hinted that it may sell off the nation’s ageing refineries, as efforts to revamp them have become more complex and expensive than anticipated. Group Chief Executive Officer of the NNPCL, Bayo Ojulari, revealed this in an interview with Bloomberg on the sidelines of the 9th OPEC International Seminar in Vienna, Austria. He said while significant investments had gone into rehabilitating th…

NNPC CEO Ojulari hints at refineries sales over rehabilitation challenges

Nigeria: NNPC Refineries May Never Work Again Despite $18bn Spent

President of the Dangote Group, Alhaji Aliko Dangote, has expressed doubt on the viability of Nigeria's state-owned refineries despite over $18 billion reportedly spent by the federal government on their rehabilitation.

NNPC Boss Opens Door To Potential Sale Of Kaduna, Port Harcourt, Warri Refineries » News.ng

The Nigerian National Petroleum Company Limited (NNPCL) is not ruling out the possibility of divesting from its non-operational refineries in Kaduna, Port Harcourt in Rivers State, and Warri in Delta State as part of a comprehensive review of its downstream portfolio. Speaking to Bloomberg at the OPEC International Seminar in Vienna, the Group CEO of NNPCL, Bayo Ojulari, acknowledged that recent investments in upgrading the refineries have not y…

NNPCL Replies Dangote, Says We Are Considering Selling Mothballed Refineries - Global Upfront Newspapers

The Nigerian National Petroleum Company Limited (NNPCL) has reacted to the claims by President of the Dangote Group, Alhaji Aliko Dangote, that there is doubt on the possibility of the Nigeria Federal Government-owned Port Harcourt, Warri, and Kaduna refineries functioning again, hinting at the possibility of selling off the country’s refineries. In an interview with Bloomberg, the Group Chief Executive Officer of the NNPCL, Bayo Ojulari, said t…

When Abacha Bought $45m Yachts and Gave Two Away

In September 1994, barely nine months after he seized power in a bloodless palace coup, Nigeria’s then military head of state, General Sani Abacha, made a flamboyant purchase that stunned even by the standards of military-era excesses: three sea-cruising yachts worth a staggering $45 million. EKO HOT BLOG obtained this piece of history, which was […] The post FLASHBACK FRIDAY: When Abacha Bought $45m Pleasure Yachts and Gave Two Away appeared fi…