A cross-section of Nigerians have taken to social media to react to documents released by the Nigerian National Petroleum Commission showing the financial figures of the Kaduna refinery in 2018.
The documents disclosed that the Kaduna refinery made zero revenue in 2018 despite incurring a total cost of N64 billion.
The documents are part of the financial details published by the NNPC on its website on Sunday
The 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.
The disclosure has led to lots of reactions on twitter with many calling for privatisation of the country’s refineries.
See some reactions below:
The NNPC has always and will remain a cesspit of the worst kind of corruption you will find any where in the world. That under BOO-hari, the corporation has gone ahead to explore for oil in the North & build hospitals when it can't build refineries tells the entire sordid story.
— Charles the 1st (@9jaBloke) June 15, 2020
If you want yo know what failure is, try compare NNPC to Saudi Aramco. Check generated revenues from inception in both corporations,see transparency in accountability and efficient delivery of services. Then you'll know the decadent gravity of corruption in a struggling economy.
— Akójèdé (@Olufemi_Ak) June 15, 2020
How on earth will an organisation that has continued to record losses back to back over the years still running!?
When the issue of privatising NNPC came up, people kicked against it now see how we are sinking money into a non profit organisation when we have a lot to do 😔 pic.twitter.com/53KgoO0XDu
— Call him Cross ➕ (@PeterCross001) June 15, 2020
Port Harcourt refinery 45 billion loss for 2018 financials
Warri refinery 44 billion loss for 2018 financials
Kaduna refinery spend 24 billion naira in direct costs to produce 00 revenue .
Operating loss of 64 for 2018.
What a country ..
— moemudi 🌏 Abuja fashion designer ✂️ #BBNaija NCDC (@Princemudi_) June 15, 2020
Obasanjo sold those refineries but Alhaji Yaradua gave it back to the bureaucrats. At least N600bn in losses, wiped out all the gains made by NNPC in gas sector.
Nigeria, a country governed by bandits.
— Olúseun Onígbińdé (@seunonigbinde) June 14, 2020
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
Atiku warned sha., But Nigerians love socialism too much, we acted like we own NNPC.
NNPC is a complete waste, just NITEL that has refused to die
The 64 Billion wasted to produce nothing won't end anytime soon
People that thought searching for Oil in the North was a good idea.
— William (@_SirWilliam_) June 14, 2020