Tuesday, 9 October 2012

FG to spend N251bn on repair of three refineries

The Federal Government plans to spend N251.2bn on the repairs of three refineries. The Minister of Petroleum, Mrs. Diezani Alison-Madueke made the disclosure when she appeared before the Senate Committee on Petroleum (Downstream). The minister was at the Senate with the Group Managing Director of the NNPC, Andrew Yakubu, and the Managing Director of Pipeline and Products Marketing Company, Mr. Haruna Momoh. They were summoned to explain the continued scarcity of Petroleum Motor Spirit and the increase in the price of the product by marketers.
Alison-Madueke said the government would be spending N251.2b on the Turn Around Maintenance of the three refineries in the country, adding that there were some adjustments in the timelines for executing the TAM. She noted that although there were plans to build new refineries, existing ones would still be maintained.

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