25th December, 2012
Repair works on Nigeria’s three refineries in Port Harcourt and Warri would gulp N152billion in 2013.
The Punch reports that details of the budget were contained in the budget document submitted to the National Assembly Joint Committee on Petroleum (Downstream) last week.
It show that the total maintenance cost for the Port Harcourt Refinery by its original builders, basic engineering design for the Fluid Catalytic Cracking Unit and RFCC plant project is estimated at N76.779bn.
A breakdown of the N76.779bn indicates that N43.5bn will be spent on the refinery’s rehabilitation, N32.646bn on the plant project and N636m on basic engineering design.
The total estimated expenditure for the maintenance of the Warri Refining and Petrochemical Company is put at N43.12bn.
The NNPC is planning to spend N41.879bn on the refinery’s rehabilitation; N159m on fire detection alarm systems; N286.2m on replacement of the HP BFW Pumps and Driver 101-P-02B; and N79.5m on the upgrade of the co-boiler instrumentation and burner management system.
The corporation will spend N32.106bn on the Kaduna Refining and Petrochemical Company. The breakdown of the N32.106bn shows that N31.441bn will go into its rehabilitation and N317.38m for the reconstruction of FCCU, gasoline tank (51TK14B) and purchase of accessories.
Rehabilitation of raw water intake road will gulp N178.12m, while new maintenance office building will cost N170m.
The corporation, in 2012, budgeted N154.48bn for capital expenditure, but spent N23.1bn only.
In the budget statement, which was obtained by our correspondent on Monday, the NNPC said that the Federal Government had yet to pay it N217bn kerosene subsidy.