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As part of the bid to ameliorate the problems in the Nigerian oil sector, the Federal Government is looking forward to privatizing the four oil refineries before the end of the year.
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.State oil firm Nigerian National Petroleum Corp (NNPC) owns and operates the four refineries, namely: the 125,000 b/d Warri refinery, the 110,000 b/d Kaduna plant and two other refineries at Port Harcourt with combined capacity of 210,000 b/d. Industry officials said the support the government received from the two powerful oil workers’ unions, NUPENG and PENGASSAN, in the recent removal of subsidy on imported petrol and the increase in fuel prices, bolstered the government’s confidence to launch a fresh bid to privatize the refineries.
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