Nigeria’s House of Reps To Investigate $1.5bn Refinery Rehabilitation Cost

Nigeria's HOuse of Representatives

The House of Representatives on Wednesday after a motion moved as a “matter of public importance” by Hon. (Barr) Onofiok Luke mandated the committee on Petroleum Resources (Downstream) to run an investigative hearing to confirm the current state of the Port Harcourt Refinery.

The House further mandated the committee to carry out a comprehensive audit of funds previously spent on the Port Harcourt refinery and other refineries across the country.

The refinery got an estimated $1.5billion approval for rehabilitation by the Federal Government and its expected to begin immediately with a duration that span across three phases.

The Minister of State for Petroleum Resources, Timipre Sylva said the first phase will be completed in 18 months which will take the refinery to a production of 90 percent of its capacity, the second phase will be completed in 24 months, while the final phase will be completed in 44 months.

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