The cumulative production of the refineries in Nigeria has hit 6.76 million daily, the Nigerian National Petroleum Corporation (NNPC) announced yesterday.
A breakdown of the production by the oil installations showed that Port Harcourt Refinery, which was re-streamed a week earlier, is producing 4.09 million litres, the Kaduna Refinery is contributing 1.29 million litres and Warri, which was re-streamed on Sunday, is posting a yield of 1.38 million litres.
The refineries, the Group General Manager, Group Public Affairs Division of the NNPC, Ohi Alegbe, said in a statement, are to ramp up production to over 10 million litres by month end.
The corporation confirmed that the premium motor spirit (PMS) volumes from the refineries which are currently operating at an appreciable percentage of their nameplate capacities will help stabilise the fuel supply and distribution situation in the country.
“The nation’s three refineries in Kaduna, Port Harcourt and Warri have attained a combined daily production of over 6.76 million litres of petrol per day which is projected to increase to over 10 million litres per day by the end of January 2016.
“A breakdown of the PMS (also known as petrol) yield from the plants indicates that while Port Harcourt Refinery, which was re-streamed a week earlier, is producing some 4.09 million litres, the Kaduna Refinery is contributing some 1.29 million litres and Warri, which was re-streamed on Sunday, is posting a yield of some 1.38 million litres,” the statement read.
Meanwhile, President Muhammadu Buhari has said that an inter-ministerial committee would soon be established to speed up the re-organisation and reformation of the NNPC.
The president said this in Abuja at a meeting with the Chief Executive Officer of the International Finance Corporation (IFC), Jin-Yong Cai, at the Presidential Villa, Abuja. Buhari said that reforming the NNPC had become inevitable in view of the corruption and abuse of its present structure in the recent past.
He also cited Nigeria’s current need to maximise income from every source of revenue as a further imperative for reforming the NNPC.
He said government was making efforts to boost national revenue so that it could effectively implement its programme of change and significantly improve the living conditions of Nigerians. Cai, who is also the Vice President of the IFC, said with proper reform and reorganisation, NNPC could become Africa’s largest company.