The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this year, the Nigerian National Petroleum Corporation has said.
Latest data from the NNPC showed that the refineries, which are managed by the corporation, lost N9.60bn in January and N9.36bn in February.
Nigeria, Africa’s top oil producer, relies largely on importation for refined petroleum products as its refineries have remained in a state of disrepair for many years despite several reported repairs.
Latest data from the NNPC showed that the refineries, which are managed by the corporation, lost N9.60bn in January and N9.36bn in February.
Nigeria, Africa’s top oil producer, relies largely on importation for refined petroleum products as its refineries have remained in a state of disrepair for many years despite several reported repairs.