{"id":142146,"date":"2022-01-31T13:01:45","date_gmt":"2022-01-31T12:01:45","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=142146"},"modified":"2022-01-31T13:04:02","modified_gmt":"2022-01-31T12:04:02","slug":"we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/01\/31\/we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc\/","title":{"rendered":"We spent N100bn on refineries\u2019 rehabilitation in 2021 &#8211; NNPC"},"content":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited spent N100 billion on the rehabilitation of the nation&#8217;s refineries in 2021.<\/p>\n<p><span data-preserver-spaces=\"true\">The details are contained in the Nigerian National Petroleum Corporation (<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nnpcgroup.com\/Pages\/Home.aspx\" target=\"_blank\" rel=\"noopener\"><strong><span data-preserver-spaces=\"true\">NNPC<\/span><\/strong><\/a><span data-preserver-spaces=\"true\">) presentation to the Federation Account Allocation Committee (FAAC) meeting on its funding performance for the year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to the state oil firm, the fund was used to revamp the facilities throughout the year.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although the specific refineries were not stated, according to the funding report, <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/27\/governors-declare-nnpcs-n3trillion-petrol-subsidy-fraudulent\/\">NNPC<\/a> said it spent N8.3 billion every month in 2021 to revamp the refineries.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The facilities under the NNPC\u2019s management include the Port Harcourt Refining Company (PHRC), Kaduna Refining Production Company (KRPC) and the Warri Refining Production Company (WRPC).\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The refineries have a combined installed capacity of 445,000 barrels of oil per day.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite having four refineries, Nigeria imports its refined petroleum products. As a result, the country spends the scarce foreign exchange (forex) to ensure no scarcity.<\/span><\/p>\n<p>Group managing director of the NNPC, Mele Kyari had stated that the nation&#8217;s refineries were deliberately shut down because<span data-preserver-spaces=\"true\">\u00a0their operations were no longer sustainable.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In March 2021, the federal executive council (FEC) approved the sum of $1.5 billion for the rehabilitation of the Port Harcourt refinery. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last week<\/span><span data-preserver-spaces=\"true\">, the federal government said it had processed $98 million and N17.2 billion as partial payments for the ongoing rehabilitation works at the refinery.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited spent N100 billion on the rehabilitation of the nation&#8217;s refineries in 2021. The details are contained in the Nigerian National Petroleum Corporation (NNPC) presentation to the Federation Account Allocation Committee (FAAC) meeting on its funding performance for the year. According to the state oil firm, the fund was [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":120429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[28523,28907,1193,14998],"class_list":["post-142146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-federation-account-allocation-committee-faac","tag-n100-billion","tag-nnpc","tag-refineries"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>We spent N100bn on refineries\u2019 rehabilitation in 2021 - NNPC<\/title>\n<meta name=\"description\" content=\"The Nigerian National Petroleum Company (NNPC) Limited spent N100 billion on the rehabilitation of the nation&#039;s refineries in 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/31\/we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We spent N100bn on refineries\u2019 rehabilitation in 2021 - NNPC\" \/>\n<meta property=\"og:description\" content=\"The Nigerian National Petroleum Company (NNPC) Limited spent N100 billion on the rehabilitation of the nation&#039;s refineries in 2021. The details are\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/31\/we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-31T12:01:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-31T12:04:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/12\/ify_davies\/2021\/12\/13\/NNPC-GMD-Mele-Kyari-says-contracts-for-Kaduna-Warri-refineries-in-June.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"680\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal Chocomilo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@OChocomilo\" \/>\n<meta name=\"twitter:site\" content=\"@withinnigeria\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sodiq Lawal Chocomilo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/2022\\\/01\\\/31\\\/we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/2022\\\/01\\\/31\\\/we-spent-n100bn-on-refineries-rehabilitation-in-2021-nnpc\\\/\"},\"author\":{\"name\":\"Sodiq Lawal Chocomilo\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/#\\\/schema\\\/person\\\/db8593431a99b3751c40316ba4b4a452\"},\"headline\":\"We spent N100bn on refineries\u2019 rehabilitation in 2021 &#8211; 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