The Nigerian National Petroleum Company Limited (NNPC) yesterday announced the restart of the 125,000 barrels per day (bpd) Warri Refinery and Petrochemical Company (WRPC), which was first approved for rehabilitation at the sum of $897 million in 2021.
President Bola Tinubu expressed his joy at the re-opening of the refinery, describing it as another remarkable achievement in 2024, which has strengthened Nigerians’ hope in his administration.
In 2021, the Federal Executive Council (FEC) approved the sum of $1.48 billion for the rehabilitation of the Warri and Kaduna refineries, with the breakdown showing that $897 million was earmarked for the Warri refinery while $586 million was set aside for the rehabilitation of the Kaduna refinery.
Then Minister of State for Petroleum, Timipre Sylva, while addressing State House correspondents, after the FEC meeting chaired by former Vice President Yemi Osinbajo at the Presidential Villa, Abuja, said the contract, which was awarded to Messrs Saipem SPA and Saipem Contracting Limited, will be carried out in three phases.
