Stressing that the four refineries were “running on a faulty business model,” Johnson argued that solving the TAM is a short-term solution, thus the need to have a holistic solution that is long-term and sustainable.”
Browsing: Mr. Anibor Kragha
“I am convinced that the teams we have selected here today will give the necessary direction towards returning the refineries back to their optimal levels of performance,” Mr. Baru said.
Mr. Ughamadu said another form of the scam involved text messages, e-mails, and letters inviting gullible job seekers for fake job interviews at the NNPC Towers and other locations across the country with a view to extorting money from them.
Kragha said, “Because of what is happening and the global trend, President Muhammadu Buhari gave approval for strategic investments to be made in the refineries. So, the investment model is basically this way: strategic investors who can bring refining expertise and funding will partner local players with downstream experience to actually go into the refineries, invest money and within 24 months to get us to 90 per cent capacity utilisation.”
This plea comes on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre.
On the earlier plan to have other refineries co-located with the existing refineries, Kragha explained that though the plan was still on course, none of the projected co-location refineries would come on stream in 2017 based on existing timeline for assemblage of the plants.
Nigeria is targeting about $15 billion foreign investments from China and the Gulf States to replace and expand its ageing infrastructure in the oil industry.
