No Plans To Sell Refineries, Kachikwu Tells Nigerians

Ibe Kachikwu - RefineriesThe Federal Government has no plans to sell Nigeria’s refineries to private owners, an official has said.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, during an official visit to the Port Harcourt refinery in Alesa Eleme in Rivers State.

“We are not inviting foreign partners to take over the refineries, we do not have the funds.

“Even now that they are working, they are probably working at about 60 per cent or below capacity (and) we need to upgrade these refineries, get them to a level where they are doing at least 90 per cent performance (and) it requires money,” he said.

The Minister revealed that the total investment for the process was in excess of $700 million, lamenting that the government does not have such fund.

Speaking in company of some senior officials of the NNPC on Saturday in Nigeria’s southern region, he hinted reporters that he was on a tour of the nation’s refining facilities.

Mr Kachikwu explained that the call for foreign partners was to get technical support to upgrade Nigeria’s capacity to achieve consumer quota and export in the course of time.

“What we’ve now done is to find a very creative way (for which we should be praised actually) of bringing in investors who will come in and work with our team here who have the skills, to reactivate and upgrade facilities in these refineries and to help us provide technical support,” he said.

The Petroleum Minister also told reporters that the Federal Government had also changed the refining modules such that refineries pay for their crude with the payment credited to the Federation Account.

He commissioned the crude line into the tank of the refining company, disclosing that the target was to get the country’s refineries up and running at full capacity.

While some Nigerians hoped the refineries run at optimum capacity, the Minister believed that with the right strategy, importation of petroleum products would gradually fade away.

Port Harcourt Refinery To Start Production In One Week – Kachikwu

kachikwu on PH RefineryThe Minister of State for Petroleum Resources, Ibe Kachikwu, has said that the Port Harcourt refinery will start production in the next one week.

The Minister made the statement during his Christmas visit to the plant in Alesa Eleme in Rivers State on Friday.

He was there to oversee the repair work done so far and hinted that the refinery would be back to production in the next one week.

The Port Harcourt refinery has a combined production capacity of over five million litres of PMS per day and the Minister said that getting the nation’s refineries to work at full capacity is the way to go.

According to Mr Kachikwu, the up-scaling of the nation’s refineries ensures transparency and subsequent reduction in the importation of petroleum products that would make scarcity remain in the past.

It was announced earlier in November that the Kaduna Refinery and Petrochemical Company had also resumed production of petrol four months after it was closed for repairs.

The Managing Director of the company, Saidu Mohammed, who disclosed this to Channels Television in Kaduna, said that the plant, which was closed in September, came back on stream ahead of the December deadline for Nigeria’s four refineries to return to full production.


Fuel Queues Reappear In Ogun, Edo

fuel There are growing concerns among residents and motorists in Ogun and Edo state following the return of fuel queues in most petrol stations.

In Abeokuta, long queues of vehicles were sighted at the capital city with motorist struggling for the product at the service points.

There were also people with jerry cans hoping to get the product either as use in their vehicles or generators to power their homes.

Some stations remained deserted as a result of non-availability of the product.

It was the same situation in Benin City where long queues have also been seen around the city.

Some of the motorists complained of difficulty in getting petrol, asking the federal government to intervene in order to bring the situation under control.

The NNPC had given assurances that it has enough supply and had warned buyers against panic buying.

Residents have, however, appealed to the authority concerned to do the needful in bringing the situation under control for the good of the residents

Stop Panic Buying, NNPC Urges Nigerians

NNPCThe Nigerian National Petroleum Corporation (NNPC) has urged Nigerians to stop the panic buying of petrol across the country.

Most filling stations in Abuja and other parts of the country have been inundated with cars forming long queues in an attempt to get petrol.

However, in a statement signed by the Spokesman of the NNPC, Mr Ohi Alegbe, the NNPC said that there is adequate product to last the country for 23 days.

The statement put the quantity of petrol stock at over 927 million litres.

The statement further warned marketers not to engage in products hoarding and diversion as the monitoring committee from the Pipeline and Products Marketing Company (PPMC) is empowered to sanction anyone engaging in sharp practices.

The NNPC had on Monday said that there was no iota of truth in the news making the rounds that the organisation had reduced the pump price of fuel.

The Group General Manager of NNPC, Ohi Aligbe told Channels Television on Monday that stories about the pump price being reduced has gone viral on the internet, but maintained that pump price of petrol remains 87 naira per litre.

NNPC Denies Slashing Petrol Pump Price

NNPC The NNPC says there is no iota of truth in the news making the rounds that the organisation has reduced the pump price of fuel.

The Group General Manager of NNPC, Ohi Aligbe told Channels Television on Monday that stories about the pump price being reduced has gone viral on the internet, but maintained that pump price of petrol remains 87 naira per litre.

He called the rumour the handiwork of detractors, saying that the management is not contemplating price reduction as at now.

Fuel Importation To Reduce As Port Harcourt, Warri Refineries Begin Operation

Refinery-KadunaThe Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, is optimistic that fuel importation will reduce, with the commencement of production at the Port Harcourt refinery.

He said that the Port Harcourt refinery was producing five million litres of petrol every day and that the refinery in Warri, Delta State, would begin production soon.

The NNPC boss made the revelation to reporters on Wednesday during a visit to the Port Harcourt refinery in Alesa Eleme, in Rivers State.

Fuel Importation Reduction

According to Mr Kachikwu, the production rate signifies that fuel importation will reduce significantly from now on.

He also said that before the end of the week, the Warri refinery will also resume production.

The GMD explained that the target of the NNPC was to ensure that all states’ refineries would begin to refine petroleum products, with operation at full capacity.

“All the refineries put together could supply 20 million litres of petrol on daily basis,” he said.

He also hinted that “when all the pipelines across Nigeria are fixed, the Nigerian Air Force will be engaged to provide aerial survey of the pipelines.

The GMD then told Journalists that a major plan was on the way to unbundle the pipelines and products marketing into three different companies that would focus primarily on maintenance of the pipelines and all the 23 depots across the country.