Experts Push for Sale of Nigerian Refineries Amidst N2.92 Trillion Investment in 2024

Experts are urging the sale of Nigerian refineries as the government plans a N2.92 trillion investment in 2024. Former President Muhammadu Buhari had allocated $3.7 billion for refinery rehabilitation between 2015 and 2022.

NNPC's Group CEO, Bashir Bayo Ojulari, is contemplating the sale of the refineries due to technological challenges and misalignment in the facilities. Ojulari highlighted the need to revamp refinery production to meet international standards.

The refineries are expected to be fully operational by 2025, producing high-grade petroleum products.