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House of Reps to ascertain Nigeria’s refining capacity


The House of Representatives is to ascertain the viability of the Nigerian four refineries as part of measure to increase local production of petroleum products to meet the national demand.
To this end, Kaduna, Port Harcourt and Warri refineries would be investigated to determine their current utilization level.
The move was contained in a motion unanimously adopted on the need to investigate the status of the four refineries given the amount of funds injected in their turn around maintenance.
Presenting the motion, Mr.Ibrahim Ayokunle Isiaka argued that with the level of oil production in the country, Nigeria is the only OPEC member that depends on oil import to serve the nation’s need.
“Nigeria is not among the three top countries in Africa in terms of refining capacity and is the only member of the Organization of Petroleum Exporting Countries, OPEC that depends on imported refined petroleum products,” Ayokunle said.
Members expressed concern that despite the N467.4bn spent over the years on their Turn-Around Maintenance (TAM), the four refineries’ utilization capacity stood at only 11%.

VON. 

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