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Shut Kaduna refinery down now – Nigerians react to NNPC financial statements

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Shut Kaduna refinery down now, Nigerians react to NNPC financial statements

The 2018 audited financial statements of the Nigerian National Petroleum Corporation, (NNPC) showing the Kaduna refinery making zero revenue in 2018 financial year but incurred a total cost of N64 ….



Kaduna refineryThe 2018 audited financial statements of the Nigerian National Petroleum Corporation, (NNPC) showing the Kaduna refinery making zero revenue in 2018 financial year but incurred a total cost of N64 Billion has caused an uproar on Twitter.


The NNPC had on Sunday published its 2018 financial statements on its website as part of measures to improve transparency around its operations.NNPC deploys app to track sales online, reduce physical contactThe statements showed that the corporation’s three refineries reported a combined loss of N154 billion with the Kaduna refinery recording zero revenue for that year.

A recent report by the NNPC had indicated that none of the country’s refineries, with a combined capacity of 445,000 barrels per day, produced any refined crude between 2019 and 2020.

This development has further renewed the call for the privatization of the refineries.A twitter user, @ObiVegas asked “Hmmmmm How can NNPC spends such amount of money without any revenue at all?”

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