According to the Nigerian National Petroleum Company (NNPC) audited financial statements, the Kaduna, Port Harcourt, and Warri refinery firms incurred insignificant personnel costs, making it questionable why such huge amounts were involved when there were no operations at these refineries.
It was indicated that expenditures for the Port Harcourt Refinery Company amounted to N22.547 billion in 2020 and N32.023 billion in 202, while those for Warri Refinery Company were N12 billion within the same period (2020-2021) compared to its 2021 figure alone which cost 14 billion naira. In addition, major expenses of N26 billion (2020) and N20 billion (2021) were reported by Kaduna Refinery Company Limited.
This revelation mocks the government’s promises to revive Nigeria’s refineries. The Port Harcourt refinery has also for the sixth time, further prolonging its non-operational status.
