NNPC spending billions on refineries with nothing to show – NUPENG

NUPENG has urged Nigerian government to build refineries

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Monday called for the rehabilitation of Nigeria’s refineries, noting that, the state oil firm has spent billions of dollars with nothing to show.

The oil union also stressed that only when refineries are rehabilitated Nigerians will witness an end to recurring scarcity of petrol in the country.

Tayo Aboyeji, the South-West Chairman of the union made the call in an interview with the News Agency of Nigeria (NAN) in Lagos.

“It is disheartening to know that despite the fact that the nation is a major producer of crude oil, it cannot refine the product for its local consumption.

“It is ridiculous that for the past 15 years now, Nigerian National Petroleum Corporation (NNPC) had been spending billions of dollars on Turn Around Maintenance (TAM) of the refineries with nothing to show for it.

“If all our four refineries are producing at their maximum output, the country will not be spending billions of naira on importation of refined product.

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“This is the right time for our refineries to work, the Federal Government should as a matter of urgency fix the refineries now,” he said.

The chairman urged the NNPC to increase supply of petrol to depots in order to reduce the scarcity nationwide.

According to Aboyeji, it is not yet time for total deregulation of the sector and advised the government to reduce import duty and provide waiver to oil companies to import the product.

On petrol stations selling above the official pump price, Aboyeji urged the Department of Petroleum Resources (DPR) to investigate properly before sealing such stations.

“To me, it is not all about the pump price; it is about where they are getting the product and how much they are getting it.

“Are these private depots selling above the ex-depot price of N133.28?

“Since DPR started the sealing of petrol stations that are selling above official pump price, we have not seen them asking questions in private depots how much they are selling to marketers.

“Oil marketers are in business to make money; they cannot get petrol at higher price and sell at lower price.

“It is the responsibility of DPR to find out the source of where the marketers are getting the product before sealing the stations,” he said.

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