Group Managing Director, Nigerian National Petroleum Corporation (NNPC) and Minister of State for Petroleum Ibe Kachikwu, has said that the refineries in the country could not meet local demand of petrol even if they functioned at optimal capacity.
Kachikwu said this while briefing the Senate Committee on Petroleum (Upstream) on the lingering scarcity of petrol said that the refineries if repaired, could not even meet up to 50 per cent demand.
He said that the design of the refineries had already created gaps in refining Premium Motor Spirit (PMS) even if the refineries were to function at full capacity.
“The design of the Nigerian refineries was such that the component of PMS versus other products was almost a 50/50 per cent relationship.
“Most world refineries now provide PMS to about 70 to 80 per cent ratio.
“So, even if the refineries work as being designed today, they will still provide less than 50 per cent of what we consume in this country.
“In any case, it is geared to producing only half of that, but the design of the PMS quotient of the total production is only 50 per cent.
“So, even if it worked perfectly, we will still have a gap, this is why we have gone to try and increase the capacity,” he added.
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