FG advised against more spending on idle NNPC refineries

The Federal Government has been advised against further spending on idle refineries, according to an open letter from energy expert Dan Kunle. President Bola Tinubu had assured the leadership of the Nigeria Union of Petroleum and Natural Gas Workers that the Port Harcourt, Warri, and Kaduna refineries would return to operation, but Kunle questioned the rationale behind further investment in these facilities.

The government has already committed a significant amount of funds to the rehabilitation of these refineries, with the House of Representatives record stating that the three refineries incurred about N4.8tn in operating and running costs between 2010 and 2020, with accumulated losses of about N366.5bn. Kunle urged the government to first establish what went wrong with previous rehabilitation programmes and how much had already been spent before committing more public funds to these projects.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.