NNPC reveals why Nigeria's refineries are shut down
- Nigeria's refineries have been shut down by the government because it is no longer realistic to operate them
- This was disclosed by the GMD of NNPC, Mele Kyari, during his appearance before the House committee on petroleum
- Kyari also blamed pipeline vandals whose activities had made the country lose petroleum product close to N43 billion
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Mele Kyari, the group managing director of Nigerian National Petroleum Corporation (NNPC), has revealed why the corporation deliberately shut down the nation's refineries.
The Guardian reports that the refineries were shut down because they no longer make sense to be operated.
Legit.ng gathered that Kyari disclosed this when he appeared before the House of Representatives committee on petroleum upstream on Thursday, November 26, in Abuja.
The GMD said that the NNPC was unable to supply crude oil to the refineries, adding that it was only excravos pipeline which the corporation managed to sustain through the contracting process.
Source: Twitter
The NNPC boss said that the activities of vandals made it impossible for pipelines to be operated, adding that from January to June it had lost petroleum product close to N43 billion.
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Meanwhile, Legit.ng had previously reported that the NNPC announced the discovery of oil in commercial quantity in the Benue Trough.
It was reported that Kyari disclosed this while delivering a goodwill message at the opening ceremony of the 38th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).
The GMD who appreciated the good work and resilience of in-house professionals in the ongoing inland basins exploration activities said it built up to the recent discovery of hydrocarbons in Benue Trough.
In a related report, a meeting between the federal government and the organised labour over the hikes in fuel pump price and the electricity tariff ended abruptly on Sunday, November 22.
The representatives of the organised labour staged a walk-out from the meeting barely five minutes after it started.
The president of the Trade Union Congress, (TUC), Quadri Olaleye, accused the federal government of being insincere about the discussions with labour leaders.
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Source: Legit.ng
