Sell refineries as scrap, IPMAN tells FG
Kaduna Refinery The Federal Government has been advised to sell off any of the nation’s refineries that fails to come back on stream as well as deregulate the downstream sector of the oil and gas industry. The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, gave the advice while disclosing the Federal Government’s Premium Motor Spirit (petrol) intervention scheme with the association. The Minister of State for Petroleum Resources and Group Managing Director of the NNPC, Dr. Ibe Kachikwu, had recently given a 90-day fast-track ultimatum for the revival of the refineries. Four days to the end of the deadline, only one of the refineries (Kaduna) has resumed production. The nation’s refineries in Warri, Kaduna and Port Harcourt have a combined installed capacity of 445,000 barrels per day. Osatuyi said, “Refineries that will die will die. The ones that will survive will survive. If the refinery is not working, le