Minister of State for Petroleum Resources, Heineken Lokpobiri, has emphasized his commitment to holding the Nigerian National Petroleum Company Limited
He disclosed this to State House Correspondents at the end of the three-day retreat at the Presidential Villa.
Despite substantial investments of over $25 billion in the past decade, the refineries were operating at less than 30% of their capacity, as reported by the 9th National Assembly. The committee’s goal is to examine the best strategies for commercializing and ensuring profitability of the state-owned refineries, involving the Federal Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission , NNPCL, and the Bureau of Public Enterprises.
He continued by outlining the progress in various phases of rehabilitation, stating, “For Warri refinery, they said Phase 1 will be ready by the end of the year.
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