The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has said that NNPC would have sold all the refineries, but for the intervention of the President.
He told journalists in Lagos that the refineries are mostly producing at 30 per cent capacity, whereas he would have wished they were producing at a minimum capacity of 60 per cent.
The NNPC boss lamented the fact that the refineries had obsolete equipment as a result of their age, but added that his vision of making the corporation run like a company is refocusing the refineries.
Mr. Kachikwu also told journalists on Friday that as from Saturday, the Nigerian Army would begin to monitor the nation’s pipelines, beginning with the one in Arepo, Ogun State.
He further warned Nigerians against vandalising pipelines, saying it is the collective wealth of the nation.