The NNPC knowledgeable the committee that the continuing rehabilitation of the Port Harcourt refinery can be accomplished by March 2023.

In accordance with the Group Managing Director, NNPC, Mele Kyari, the rehabilitation, which contract was awarded on Could 6, 2021, had attained 30 per cent completion stage.

He added that part of the challenge can be delivered inside 32 months, however the whole challenge was anticipated to be accomplished inside 42 months.

Kyari, who was represented by the Group Basic Supervisor, Refineries & Petrochemicals, Mustapha Yakubu, nevertheless, disclosed that the contracts for the rehabilitation of the Warri and Kaduna refineries had not been awarded.

There was a gentle drama on the investigative listening to on the price of a brand new refinery with manufacturing capability of 150,000 barrels per day.

The committee requested for the Federal Government Council’s approval of the $1.5bn for the Port Harcourt refinery, approval of assorted expenditures incurred on the twenty sixth July, 2017, value $5.321 million for complete technical plans, in addition to one other $55m paid on the identical day.

The committee engaged Sapien engineering firm dealing with the contract for the $1.3 billion rehabilitation train of the refinery and a further sum of £2.3m for the inspection of each Warri and Kaduna refineries.

After going via the paperwork submitted by NNPC to the committee, the lawmakers noticed related contracts for the three refineries have been awarded to a different firm (Technomont) in 2019.

The Managing Director of Port Harcourt Refinery, Ahmed Dikko, disclosed that the total conversion plant would value $4.5bn and can be accomplished inside 5 years.

Nevertheless, the lawmakers stated they noticed that the identical challenge would value $90million in America.