Nigerian refineries can work successfully if… ― SPE

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5 years ago

The chairman, Society of Petroleum Engineers (SPE), Nigeria Council, Mr Joe Nwakwue, has observed that Nigerian refineries can still work successfully if institutional challenges are considered rather than focus on technical ones.

According to him: “People run refineries everywhere in the world. That we can’t run refineries here in the country has more to do with institutional challenges than technical challenges. We can see that private refineries are coming and they will be run.

“Nigerians can run refineries, the failure of the state to do what needs to be done. If they can’t run NEPA and they can’t run any other things, is it refineries that they can run?” He asked.

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Speaking with newsmen in Abuja ahead of a conference to address specific issues that are intended to guide policymakers and regulators on the challenges in the industry, Mr Nwakwue further observed that the challenges are driving away investors in the petroleum sector.

Mr Nwakwue, who disclosed that the conference slated for Thursday with the theme: “Assets Acquisition and Investments” is expected to offer a wide range of solutions, noted that Nigeria’s refineries can still be put into use if some institutional restructuring are considered.

“So, there is no reason to expect that thing will change but I believe that the move towards private sector refining is the answer and I think that it will work and I think that it will work. The refineries are not working because its rocket science, it is just because we can’t put our house in order as a nation,” he added.