Refineries suffer 13-month loss of N104.3bn, refine zero oil - Punch Newspapers
A total loss of N104.3bn was recorded by Nigeria’s refineries in 13 months, even as the facilities refined no crude oil throughout the period, the latest report released by the Nigerian National Petroleum Corporation showed.
Figures from the corporation showed that the monthly operating expenditures of the refineries surpassed their revenues all through the 13-month duration. Their consolidated losses continued in 2021, as they lost N5.37bn and N6.88bn in January and February this year, being the most recent update from the corporation.
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