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Buhari: It’s disgraceful that no refinery performs up to 50% capacity

President Muhammadu Buhari has recalled how Nigeria used to export 100,000 barrels of refined crude oil every day during his regime as a military Head of State.

But Buhari also said it is a “disgraceful thing” that no refinery currently performs up to 50 percent capacity.

Femi Adesina, a presidential spokesman, quoted Buhari as saying this on Friday when he received a delegation of Eni, an international oil company, at the Aso Rock Villa.

“In my first coming, all our refineries were working. Port Harcourt used to refine 60,000 barrels per day, and it was later upgraded to 100,000 barrels. Kaduna and Warri were also working optimally, and we used to satisfy the demand of the local market.

“We equally exported 100,000 barrels of refined petrol. Now, no refinery is performing up to 50%. It is a disgraceful thing.”

Antonio Vella, Chief Upstream Officer of Eni, had earlier said that the oil company presented a technical proposal to the NNPC to rehabilitate the Port Harcourt refinery.

Vella also said that a feasibility study has been completed on the construction of a new refinery with the capacity of producing up to 150,000 barrels of petrol per day.

“Site selection has been completed, and 50 new graduates have already arrived in Italy for a training that will last seven months,” Vella told Buhari.

“There are other upstream initiatives, and a deep water project, with estimated expenditure of $13 billion.”

Vella also informed the President of Eni’s plans to increase the power generation capacity of its plant in Delta State from 500 MW to 1,000 MW, a project that is expected to cost about $750 million.

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