Nigeria’s refineries to be rehabilitated with $1.4bn-FG

Adebayo Obajemu

Nigeria’s oil refineries will soon become very active as the Federal Government of Nigeria has approved $1.4 billion for the rehabilitation of Warri and Kaduna refineries.

This was disclosed by Minister of State for Petroleum, Timipre Sylva at the end of the Federal Executive Council meeting chaired by Vice President Yemi Osinbajo.

According to Timipre Sylva, $897 million is earmarked for the Warri refinery and $586 million for Kaduna refinery. The rehabilitation of the refineries will be carried out in three phases.

The rehabilitation is expected to turn around the refineries and set them up to meet national oil demands.