The Kaduna and Warri Refineries will begin production 18 months from this month, the same time the Port-Harcourt (PH) Refineries is expected to commence crude oil refining, said Mele Kyari, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC).
Kyari disclosed this on Wednesday when he appeared as a guest on Arise TV’s, the ‘Morning Show’.
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“The Kaduna and Warri Refineries’ rehabilitation which will be awarded in July will be completed and started production almost the same time as the already awarded Port-Harcourt Refinery,” the NNPC GMD said.
He said though the PH Refinery had a completion timeline of 40 months, crude oil refining would start there in 18 months from now, January 2023.
On under-recovery payment, Kyari said the payment for differential cost between the actual landing cost and pump price rate was affecting NNPC’s remittance to the Federation Account.
“We are supposed to remit N120 billion to the Federation Account every month. But in the last four months we have not been doing this. Though it is not zero remittance as reported in the media…in June we remitted N38bn’’, the NNPC boss said.
Speaking earlier on Channels TV’s SunRise programme on Tuesday, the GMD said though pump price of petrol should have been N256 per litre based on current crude oil price, the federal government through the NNPC is still paying the differential until an appropriate price is agreed upon by government and Labour.