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Nigerian Refineries Spend N127 Billion On Salaries And Benefits Despite Non- Operational Status

Nnaemeka OkwarabyNnaemeka Okwara
August 15, 2024
in Government
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Nigerian Refineries Spend N127 Billion On Salaries And Benefits Despite Non- Operational Status
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A recent inquiry has revealed that Nigeria’s refinery companies spent a staggering N127.326 billion on salaries, wages, and employee benefits even though they were not able to refine crude oil or generate any revenue.

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.

Tags: federal characterNewsNigeriaNigerian Refineries Spend N127 Billion On Salaries And Benefits Despite Non- Operational Statusrefinerysalaries
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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