The clamour for fixing the country’s local refineries following the removal of fuel subsidy by President Bola Ahmed Tinubu.
The call to fix the refineries follows the hike in fuel prices across the country.
However, the immediate past administration of President Muhammadu Buhari awarded the contracts to rehabilitate the refineries which are currently in different states of completion to facilitate local production.
Below are quick data you should know about the refinery projects.
Kaduna Refineries
- Capacity—110,000bpd
- Contract—Daewoo Engineering & Construction Company
- Contract sum—$741m
- Date of award—February 2023
- Terms—to be delivered in 21 months (2 phases)
- Timelines—1st phase: 60 % capacity in 2024; 2nd phase: 100% capacity in early 2025
Port Harcourt Refineries
- Capacity—210,000bpd
- Contract—Maire Tecnimont SpA
- Contract sum—$1.5bn
- Date of award—April 2021
- Terms—to be delivered in 36 months (3 phases)
- Timelines—1st phase: 60 % capacity in Sept/Oct. 2023; 2nd phase: 90% capacity in Jan. 2024; 3rd phase: 100% capacity in Jan. 2025
Warri Refineries
- Capacity—125,000bpd
- Contract—Daewoo Engineering & Construction Company
- Contract sum—$492.3m
- Date of award—February 2023
- Terms—to be delivered in 21 months (2 phases)
- Timelines—1st phase: 60 % capacity in 2024; 2nd phase: 100% capacity in early 2025
Source: Temitope Ajayi, senior special assistant to the President on media and publicity
