Ibe Kachikwu, Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation at a certificate presentation in Port Harcourt, stated that the three functional refineries in Nigeria will not be privatized.
The minister said there was no plan to sell the nation’s refineries in Port Harcourt, Kaduna and Warri, adding that President Buhari only endorsed making investments in the facilities.
The minister spoke at the official presentation of the ISO 9001:2008 Certificate to the Port Harcourt Refining Company in Eleme LGA, Rivers State.
The Minister represented by the Chief Operating Officer of the refineries, Mr. Anibor Kragha said, “We have the mandate to deliver value and money to Nigeria. So, we will not privatise our refineries. Rather, we have the approval to seek funding that will take us to a higher level in production”.
Kachikwu said the Port Harcourt refining company had placed Nigerian refineries in the world class standard.