The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Ibe Kachikwu, has disclosed that the corporation would commence the sale of any refinery that fails to begin optimal operation by December 2015, when the 90-day ultimatum for their rehabilitation expires.
Making the disclosure to newsmen on Friday, September 25, 2015, Kachikwu also said that he is “hoping” that the NNPC would be able to settle its cash call arrears which stood at N1.1trillion.
He said: “By the end of December when the 90-day ultimatum will expire, any refinery that does not work optimally will be sold.
“If by December, the refineries don’t work, I will export crude allocation and import refined petroleum products until we fix the refineries.
“Right now, the Port Harcourt refinery is showing signs that it will meet the December deadline.
“However, I am not saying Warri and Kaduna refineries will not meet the deadline, but I hope they all make it, so that we can continue to utilise our crude allocation to boost domestic refining.
“By December, I hope to settle all the cash call arrears and grow Nigerian Petroleum Development Corporation (NPDC) to where it is supposed to be.’’
