The Crude Oil Refiners Association of Nigeria (CORAN) has called on the Nigerian National Petroleum Company (NNPC) and the federal government to sell the Port Harcourt, Warri, and Kaduna refineries, advocating instead for increased investment in modular refineries.
Eche Idoko, CORAN’s Publicity Secretary, expressed concern over the $1.5 billion allocated for the rehabilitation of the Port Harcourt Refinery, arguing that these funds could have been better utilized to develop modular refineries that are crucial for addressing Nigeria’s energy challenges.
Idoko suggested that investing in ten additional modular refineries, alongside the Dangote Refinery, could significantly reduce Nigeria’s reliance on fuel imports. He noted that with the combined capacity of modular refineries and Dangote’s facility, the country could potentially eliminate the need for fuel imports and even begin exporting.
Currently, Nigeria has 15 modular refineries in various stages of development, with five operational but not yet producing petrol. Idoko emphasized that supporting these refineries could resolve fuel scarcity issues within a year.
“The $1.5 billion used for the Port Harcourt refinery could have been invested in ten modular refineries capable of producing up to 100,000 barrels per day,” Idoko said. “With this capacity and the Dangote refinery, we would not only meet local demands but also position ourselves to export fuel.”
Idoko's appeal comes as NNPC has announced that the Port Harcourt Refinery is expected to commence commercial operations in September 2024, following multiple delays. Additionally, the 650,000 barrels per day Dangote Refinery is also slated to start petrol production in September, according to government sources.
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