Warri, Kaduna, Port Harcourt refineries post N8.36bn deficit

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By Michael Eboh

The dismal performance of the country’s three refineries, Warri, Port Harcourt and Kaduna refineries, continued, as the refineries posted operating deficit of N8.36 billion in January 2019, according to data released by the Nigerian National Petroleum Corporation, NNPC.

Port Harcourt refinery Warri, Kaduna, Port Harcourt refineries post N8.36bn deficit
A picture taken on September 16, 2015 shows workers trying to tie a pipe of the first refinery in Nigeria, which was built in 1965 in oil rich Port Harcourt, Rivers State. The Port Harcourt refinery is Nigeria’s oldest, built in 1965, nine years after crude was first found under the marshy soil and creeks of the delta, where the Niger river meanders to the Gulf of Guinea. Refineries in nearby Warri and Kaduna in the north central region were built in the years that followed, while a new plant was added to the same site in Port Harcourt in 1989. In recent years, however, it became a byword for corruption, a murky, state-run body where billions of dollars in revenue apparently disappeared. AFP…



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