NNPC to hand over refineries to private firm

The Nigerian National Petroleum Corporation (NNPC) is to hand over the country’s four refineries to a private firm to manage them on Operations and Maintenance (O&M) basis.

The Group Managing Director of NNPC, Mele Kyari, who dropped the hint yesterday in Abuja, added that the facilities were being rehabilitated and would be handed over at the conclusion of the exercise.
He said: “We are going to get an O&M contract, NNPC won’t run it. We are going to get a firm that will guarantee that this plant would run for some time. We want to try a different model of getting these refineries to run. And we are going to apply this process for their running.”

Kyari pointed out that the country would deploy the NLNG model, adding that private investors were needed to invest in the assets.