By 1973, post-war reconstruction and increasing demand prompted the expansion of the capacity of the Port Harcourt refinery to 60,000bpd. According to the NRSTF, the NNPC Refineries & Petrochemicals Directorate had estimated that it would cost about $750m to carry out the most urgent repairs and maintenance work on the refineries. In 2015, Port Harcourt, Kaduna and Warri refineries were idle for eight months, seven months and nine months respectively, losing N10.05bn, N36.03bn and N21.39bn. In 2017, Kaduna, Warri and Port Harcourt refineries were idle for six, five and two months respectively, losing N32.61bn, N22.14bn and N11.51bn. He noted that the policy environment had perpetuated dependence on imports of petroleum products, costing the economy billions of dollars annually.

Source: Punch December 18, 2019 23:12 UTC