Home Business Nigeria’s Oil Refineries Are a Mess and Symbolise the Country’s Descent Into Corruption and Waste

Nigeria’s Oil Refineries Are a Mess and Symbolise the Country’s Descent Into Corruption and Waste

by
Nigeria: NACA Denies Recruitment Exercise, Warns Against Fake Websites

The decision by the government of President Muhammadu Buhari to shell out another $1.5bn to repair the Port Harcourt oil refinery indicates that Abuja is clearly not in the mood to curtail corruption or rein in its appetite for waste.

Brazil has proved a disaster in the management of Covid-19, but there are other areas where we can use its examples.

Like what to do about failing refineries. This hot-button topic returned to the front burner after the Nigerian government recently announced plans to repair the Port Harcourt Refinery.

That refinery and the ones in Warri and Kaduna have a combined refining capacity of 410,000 barrels per day (bpd), an output far less than the local daily demand, but which all three refineries have only struggled to meet since they were installed.

According to a recent report in The Guardian, Nigeria has spent $26.5-billion in fake maintenance in the past three decades or so. Yet, the decision by the government of President Muhammadu Buhari to shell out another $1.5-billion to flog the dying refinery horse indicates that Abuja is clearly not in the mood to curtail corruption or rein in its appetite for waste.

It’s not money the government has….

Source link

related posts

Leave a Comment