NNPC to Hand Over Nigeria Refineries to Private Company Because of Lack of Maintenance – Managing Director, Mele Kyari

The Nigerian National Petroleum Corporation (NNPC) will hands off management of the nation’s refineries after their rehabilitation.

Managing Director of NNPC, Mele Kyari, said this in an interview with Arise TV on Wednesday.

He said upon completion, a company would be engaged to manage the plants on an Operations and Maintenance (O&M) basis.

“We are going to get an O&M contract, NNPC won’t run it. We are going to get a firm that will guarantee that this plant would run for some time.

“We want to try a different model of getting this refinery to run. And we are going to apply this process for the running of the other two refineries,” he stated.

Kyari said private partners would be invited to invest in the refineries and get them to run on the NLNG model where the shareholders would be free to take decisions.

He added that the model, which is totally different from previous approach, would guarantee the desired outcome for the refineries.