Nigeria to privatise four state-owned oil refineries

Nigeria to privatise four state-owned oil refineries

The Nigerian federal government plans to begin the privatisation of four of its state-owned oil refineries before the end of the first quarter of next year, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has said.

“We would like to see major infrastructure entities, such as refineries, moving out of government hands into the private sector,” Alison-Madueke said in an interview with Bloomberg TV Africa in London.

Speaking further, she said: “Government does not want to be in the business of running major infrastructure entities and we haven’t done a very good job at it over the years.”

The refineries are 124,00bpd Warri Refinery, 60,000bpd Old Port Harcourt refinery, 150,000bpd new Port Harcourt refinery and 110,000bpd Kaduna refinery.

Source: Agency

Oil and Gas Press