The Nigerian National Petroleum Company Limited has signed an agreement with Daewoo Group of South Korea for the rehabilitation of the Kaduna Refinery, the government said Thursday.
A spokesperson for President Muhammadu Buhari said in a statement that the agreement was signed on the sidelines of the 2022 World Bio Summit on Thursday in Seoul, South Korea. Mr Buhari is attending the summit.
The 110,000 bpd-capacity Kaduna Refinery is one of Nigeria’s four dysfunctional refineries that have produced no fuel for years leaving the country to rely on imported products. It recorded a N22.9 billion loss in 2021.
The biggest state-run refinery, which is Port Harcourt, is currently undergoing repairs handled by Tecnimont of Italy. The government says it expects the plant to start production by December, although a PREMIUM TIMES review showed that is unlikely.
The Federal Executive Council in August last year approved the award of the contract for the rehabilitation of Warri and…
