The House of Representatives urged the Federal Government and Nigerian National Petroleum Corporation Limited (NNPCL) yesterday to contract with reputable international oil companies (IOCs) to operate and maintain the nation’s refineries in order to ensure dependability, optimal operational availability, and maximum value.
The 37 inactive refining licenses granted to private investors were requested to be revoked by the House from the administration. This is a suggestion that the House’s Adhoc Committee on the State of Refineries, which was formed to determine the exact cost of repairing the refineries, made. The House endorsed this recommendation at a plenary session.
The House mandated that Phases One and Two of the Port Harcourt Refinery’s rehabilitation be finished on time in order to inject 54,000 and 135,000 barrels of refined product per day, respectively. The House said the two refineries should pump a combined 189,000 barrel of refined products daily by the end of the year.
