The Nigerian National Petroleum Corporation has said that Nigeria’s refineries are not too old to refine oil.
This was made known by NNPC Chief Operating Officer, Mr Kragha Anibor at a panel session at the ongoing Nigerian International Petroleum summit (NIPS).
He said that the major problem of the corporation to bring the refineries to work was funding adding that government had continued to ensure the best way to manage the refineries.
According to him, it would be impossible for the government to sell off the refineries without properly fixing them as financiers would only fund if they operate optimally.
He further mentioned that the Port Harcourt refinery received its last Turn Around Maintenance (TAM) in 2000, Warri in 2004 and Kaduna in 2008.
He said that government would continue to ensure adequate and best agreement with investors for the refineries to ensure the best for the industry.
Meanwhile, Mr Chidi Izuwah, the Director-General, Infrastructure Concession Regulatory Commission (ICRC), said that concessioning the refineries was the best way to get them working adding that the NNPC must embrace full concession model to tackle the problems with the refineries.