The Nigerian National Petroleum Corporation says it is yet to determine the cost of the extensive rehabilitation of its three refineries.
In a telephone interview in Abuja, Group General Manager, Public Affairs Division of the corporation, Mr. Ndu Ughamadu, the corporation said that the cost of the rehabilitation work was being worked out.
Ughamadu said the question of cost and duration of the rehabilitation work would be answered by the appropriate committees that had been set up for the job.
He said, “First, I want to point out that what we are doing is not repair but rehabilitation. We are rehabilitating the entire refineries. Some committees have been set up and they are the ones that will come with the answers to some of the questions you have asked.
“The cost has not yet been determined. The committee on finance is working on it. That committee will also determine the sources of funding. Altogether, we have eight committees. Each of the committees is called work stream. The main committee which is called the steering committee is chaired by the Group Managing Director.
“The steering committee is made up of all the CEOs of the corporation and it is chaired by the GMD. There is a committee on finance; there is a committee on stakeholder management; there is a committee on crude oil supply and security; and others.