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Shut Kaduna refinery down now – Nigerians react to NNPC financial statements
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?”
Kaduna refinery made zero naira revenue with a N6Rbn expenditure in 2018.
Atiku was clear that privatizing NNPC was the right approach in checking NNPC wastage.
The idea of paying NNPC staff salary with zero naira revenue generation is subjugating Nigeria to perpetual penury.— Afam bu Ogbuefi🇳🇬 (@MistaChika) June 14, 2020
Kaduna Refinery made zero (0) revenue in 2018 FY but incured a total cost of N64 Billion.
— L'bookie🌍 (@ooyeboade) June 14, 2020
Why are we wasting these funds? When you start buying diesel to power a refinery’s gen set, you know there’s big trouble. pic.twitter.com/PaVIe77F2q
Banter aside, it is a very good thing that we are getting to see NNPC's financial statements. I hope Nigerians will read it and see why the place needs to be shut down. No sentiments. Shut it down.
— Mitchell Obama (@Ambrosia_Ijebu) June 14, 2020
Hmmmmm How can NNPC spends such amount of money without any revenue at all pic.twitter.com/RF2JK5kkN7
— Bella Vegas Obi (EGOYIBO 10billion) (@ObiVegas) June 15, 2020
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