…to build 200,000 capacity refinery
Meles Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has proferred reason the corporation has not been able to successfully fix the refineries after about 20 years of trying to do that.
Kyari stated that the failure to fix the refineries over these years was more of a strategy as they never knew what they wanted to do with it. He said that the corporation didn’t get the right advisory services and the right strategy to go through with it.
He made this known on Friday, during a virtual conference organized by Atlantic council. He said that it was difficult to explain why an oil-producing country like Nigeria would become a net importer of petroleum products.
In his words, “This reason is very simple, we couldn’t fix our refineries and that’s very difficult to explain. Why can’t we fix our refineries? We started this very many years ago. For 20 years, all attempts to fix the refineries failed for very simple reason, there is a strategy problem.
“First, we never knew what we wanted to do with it; we didn’t get the right advisory, the right strategy to go through this. And we started a process 4 years ago to getting oil traders to come and help us fix this, that never worked. We also have the strategy to make sure that we get in the original refinery builders to help us do it.