PH Refinery: 22 Days to go…
What Olu Falae said….
Former Minister of Finance, Budget, and National Planning Olu Falae believes Nigeria should repair and sell off its refineries, maintaining that the government is incapable of running them.
“My belief is that Nigeria’s problem with fuel and its price will be substantially resolved when we are able to repair and recommission our refineries and sell to companies that know how to run refineries.
“We should not try to run them ourselves because if we try to do so, politics will intervene and we will mismanage them. I am sorry to say this.
“So, we repair them and sell them to those who can manage refineries. And then, they will use those refineries to refine Nigerian crude oil and sell them to those of us here in Nigeria. That reduces the influence of the dollar exchange rate substantially.
“I am almost certain that the day we do that, the price of fuel will come down almost substantially. I do not doubt,” the elder statesman said on Channels Television.
WITH less than 23 days to the end of the year, the 53-year-old Port Harcourt refinery is currently under reconstruction with the aim of increasing local production of petrol for domestic use.
Although there is anxiety on the possibility of meeting the December 2023 targets, the Nigerian National Petroleum Corporation (NNPC) said the rehabilitation works is at advanced stage.
The project was awarded in April 2021, at the cost of $1.5 billion
Government officials, their words, their promises below….
Kyari Confirms Port Harcourt refinery will start working in December
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has confirmed that the Port Harcourt refinery will start working in December 2023.
– The Guardian, November 24, 2023
We’ll hold NNPCL responsible for PH refinery December deadline’–Minister
Ahead of the planned resumption of production at the Port Harcourt Refinery Company in December 2023, the federal government says it will continue to hold NNPC Ltd responsible for the timeline announced to Nigerians.
The federal government in August 2023 announced that the Port Harcourt refinery will commence operations in December 2023, while rehabilitation works were in top gear to ensure that both Warri and Kaduna refineries resume operations by the end of 2024.
– SweetCrude, November 21, 2023
Port Harcourt refinery to commence operations December — Tinubu
President Bola Tinubu, on Wednesday night, assured the leaders of the organised labour that the Port Harcourt refinery will commence operations by December 2023.
_ Punch, August 2, 2023
Port Harcourt Refinery Ready This December, NNPC Insists
The Nigerian National Petroleum Company Limited (NNPC), has maintained that the Port Harcourt Refining Company (PHRC) will start operations this December despite pessimism expressed by many Nigerians.
Managing Director of the facility, Ibrahim Onoja, who gave an update on the ongoing work at the plant in a television broadcast, noted that the procurement process for the rehabilitation of the refiner is now 98 per cent completed.
– ThisDay December 5, 2023
