A total of N81.41bn was expended on Nigeria’s refineries between January and August this year but the facilities refined no drop of crude oil all through this period, latest data obtained from the Nigerian National Petroleum Corporation showed. Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company posted a cumulative revenue of N6.54bn during the eight-month period. With a revenue of N6.54bn and a total expense of N81.41bn, the facilities ended up with a deficit of N78.87bn, according to figures contained in the just-released…
Read MoreHOW NIGERIAN REFINERIES GULPED N81.41BN AND PRODUCED NOTHING—NNPC
