The house of representatives ad hoc committee on the state of refineries in Nigeria says the federal government has spent a total sum of N11.34 trillion on the rehabilitation of the country's refineries from 2010 to 2020
May 31, 2023 12:27 PMThe house of representatives ad hoc committee on the state of refineries in Nigeria says the federal government has spent a total of N11.34 trillion on the rehabilitation of the country’s refineries from 2010 to 2020.to the lower chamber on Tuesday, the committee said the nation’s three refineries, located in Warri, Port Harcourt, and Kaduna, have been moribund since 2010.
Giving a breakdown, the committee said the cost of rehabilitation projects totalled N42.64 billion in the period under review; deductions from the federation account for rehabilitation was N191.67 billion; and losses by refineries over the given period amounted to N336.52 billion.According to the committee, subsidy payments totalled N5.94 trillion and the total cost of running refineries gulped N4.80 trillion.
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