Investigation reveals 11 trillion Naira spent on reviving Nigerian refineries with no results

🔍The Nigerian National Petroleum Corporation spent 11 trillion Naira on turnaround maintenance projects for the country's refineries from 2010 to 2022.

💸The expenses exclude the foreign currency component, which amounts to millions of dollars and euros.

⚖️The Senate has initiated an investigation into the spending to determine why there are no tangible results.

🛢️The collapse of the refineries leaves Nigeria heavily reliant on importing refined fuel, resulting in significant expenses on fuel subsidies.

🔍The investigation will scrutinize contracts awarded for turnaround maintenance and invite current and former managers of relevant government agencies.

How much was spent on turnaround maintenance for the refineries?

—The Nigerian National Petroleum Corporation spent 11 trillion Naira from 2010 to 2022, excluding the foreign currency component.

What is the impact of the spending on the refineries?

—Despite the expenses, there are no tangible results, and the refineries remain non-functional.

What are the consequences of the refineries' collapse?

—Nigeria is heavily reliant on importing refined fuel, leading to significant expenses on fuel subsidies.

What is being done about the spending?

—The Senate has initiated an investigation to uncover the reasons behind the lack of results and alleged corruption.

What will the investigation focus on?

—The investigation will scrutinize contracts awarded for turnaround maintenance and invite current and former managers of relevant government agencies.

00:00The Nigerian National Petroleum Corporation spent 11 trillion Naira on turnaround maintenance projects for the country's refineries from 2010 to 2022.

11:27The Senate opens an investigation into the 11 trillion Naira spending and lack of results.