TheCable

The committee is to help return Nigeria’s three refineries back to their “optimal levels of performance,” according to a statement issued on Wednesday by Ndu Ughamadu, NNPC spokesman.

In the statement, Maikanti Baru, group managing director of the corporation, charged the committees to deploy “out of the box solutions” in revamping the refineries.

He said though the NNPC target is to return the refineries to 90 per cent capacity utilisation before the end of 2019, the committee could, however, achieve 100 per cent capacity utilisation with more commitment.

Baru further charged the committees to deliver well and within schedule, adding that time was of the essence.

“I am convinced that the teams we have selected here today will give the necessary direction towards returning the refineries back to their optimal levels of performance,” Baru was quoted to have said.

“We want to show everyone that we can fully run the refineries. You must all work together to operate them at 100 per cent capacity as this was the only way to ensure profitability.

“We can fix the refineries but without the right people to operate them, they would go back to where they were or even worse.”

Anibor Kragha, chief operating officer, refineries and petrochemicals, said over 28 expressions of interest had been received so far for the financing of the rehabilitation project, adding that the goal was to get more by the end of 2017.

He also said the 2019 target was “the first time in 20 years” that there was both the political will and the economic climate to ensure effective rehabilitation of the refineries.

“Payment is therefore hinged on performance, ensuring a win-win situation for Nigeria,” Kragha said.