NNPC Spends N109bn On Refineries Rehabilitation, Pipelines
The Nigerian National Petroleum Corporation (NNPC) has revealed that it has spent a total of N109.85 billion on refineries rehabilitation and pipelines in the first nine months of 2021. Information Guide Nigeria
According to RIPPLES NIGERIA, the NNPC revealed this on Monday in its latest operations report for October.
According to the report, N34.85 billion went into pipelines security and maintenance while N75 billion was for the rehabilitation of unused refineries.
A breakdown on refineries rehabilitation reveals that N8.33 billion was committed monthly.
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RIPPLES NIGERIA reports that NNPC currently has four idle refineries, two in Port Harcourt (PHRC), and one each in Kaduna (KRPC) and Warri (WRPC).
However, for about three years, none of the refineries has been able to refine a drop of fuel, as a result, the country relies entirely on imports to satisfy demands.
According to RIPPLES NIGERIA, for pipeline repair costs which gulped an average of N3.8 billion monthly, NNPC recorded the biggest payout in July 2021.
The corporation disclosed no expenses in January but spent N5.81 billion on pipeline security and management in February.
RIPPLES NIGERIA reports that in March, the sum of N5.32 billion was spent followed by N2.64billion in April; N5.26billionn in May; N6.17 billion in June, and N7.35 billion in July. Jamb Result
NNPC did not record expenses in August, however, in September N2.30 billion was allocated to maintain and secure pipelines across the country.
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