Nigeria Open to Selling State Refineries to Boost Competition

Nigeria Open to Selling State Refineries to Boost Competition

FG: We’re Open to Selling Refineries

The Federal Government says it is open to selling the Warri, Port Harcourt, and Kaduna refineries to attract investment and promote competition in Nigeria’s oil refining sector. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, disclosed this during an interview with Bloomberg TV on the sidelines of the ADIPEC Energy Conference in Abu Dhabi, United Arab Emirates, on Tuesday. Verheijen said the move is among several options being…

FG considers selling refineries to boost competition - Newsy People

The Federal Government has indicated that it may sell off Nigeria’s state-owned refineries as part of ongoing economic reforms aimed at attracting investment, boosting competition, and improving efficiency in the downstream oil sector.   Nigeria’s four refineries located in Port Harcourt, Warri, and Kaduna have a combined installed capacity of 445,000 barrels per day (bpd) but have remained largely inactive for decades, despite multiple costly t…

FG Weighs Sale of Dormant Refineries to Attract Private Investment

The Federal Government is considering selling Nigeria’s state-owned refineries, a move that is generating fresh debate over accountability and decades of failed turnaround maintenance projects. Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, revealed the plan during an interview on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). She said the government is open to private investors tak…

FG open to selling Warri, PH, Kaduna refineries to boost competition, says presidential aide

Olu Verheijen, special adviser to President Bola Tinubu on energy, says the federal government is open to selling the refineries of the Nigerian National Petroleum Company (NNPC) Limited.   Verheijen spoke in an interview with Bloomberg TV on the sidelines of the ADIPEC energy conference in Abu Dhabi, United Arab Emirates (UAE) on Tuesday.     The presidential aide said the consideration was part of an effort to boost competition in the refining…

FG considers refinery sales to attract investors, boost competition

The Federal Government has indicated that it may sell off its publicly-owned refineries in a move aimed at attracting investors, boosting competition, and improving efficiency in the downstream oil sector, currently dominated by the Dangote Refinery.  The post FG considers refinery sales to attract investors, boost competition  appeared first on Nairametrics.