• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Fact-Check Fact-Check: Did FG Approve $2.5 billion for rehabilitation of Port Harcourt Refinery...
  • Fact-Check

Fact-Check: Did FG Approve $2.5 billion for rehabilitation of Port Harcourt Refinery in 2020?

By
Prnigeria
-
August 6, 2022
For long, Nigerian refineries have been comatose, causing the country to import a bulk of its refined PMS

Fact-Check: Did FG Approve $2.5 billion for rehabilitation of Port Harcourt Refinery in 2020?

Claim:

A recent WhatsApp message claims that in the year 2020, the sum of 2.5 billion dollars was provided for rehabilitation of Port Harcourt refinery. 

Full text:

The text which is now trending as comment on WhatsApp and Facebook reads, “My brother,  I was just reliably informed that in 2020, the sum of 2.5 billion dollars was provided for rehabilitation of Port Harcourt refinery. What is the update? How come we are experiencing the current fuel crisis?” 

Verification:

Read Also:

  • Nigerian Army Denies Losing Weapons to Bandits in Kwara Operation
  • Uba Sani Releases ₦2.3bn for Retirees and Families of Deceased Workers
  • Group Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage Cost

PRNigeria conducted a keyword search and results from previous credible media reports shows that the Nigerian National Petroleum Corporation (NNPC) proposed the sum of  $2.5 billion for rehabilitation of Port Harcourt Refinery, but after the screening by Kyari led committee of NNPC, the money was reduced to $1.5 billion for rehabilitation which was later presented to the Federal Executive Council (FEC) for approval and was eventually granted.

The project was expected to be handled by Italian based company known as Tecnimont SPA for the period of 44 months. It was also gathered that the government had made an initial payment of $194m, which is equivalent to about 74, 870,420,000 Naira being the 15 per cent advance payment required for the rehabilitation of the facility to Tecnimont SpA of Italy. Besides the given amount, there’s no public record that indicates the release of more funds for the project since then. 

The project is expected to take a total completion period of 44months which has been effective since April 6, 2021 according to publicly available record. However, this has been moving at a snail speed based on media report.

Conclusion:

From all available fact and evidence gathered by PRNigeria, the FG approved $1.5 billion for the rehabilitation of Port Harcourt Refinery.

Therefore, the claim that $2.5bn was approved for the project is FALSE.

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Abba Kyari
  • Federal Executive Council
  • NNPC
  • Port Harcourt refinery
Previous articleAmb Isiaka Imam Presents Stewardship to D-8 Commission Dhaka Bangladesh
Next articleSecurity Agencies and Imminent Victory Against Non-State Actors
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

FACT-CHECK: Did Governor Uba Sani describe El-Rufai as “Godsent” who assisted him with various needs, including property acquisitions and even against Peter Obi?

FACT-CHECK: Did Kwara Police Nab King of Alabe, Queen and Babanla Monarch With over ₦120m Banditry Loot?

Billions on the Table: Africa’s Top Leaders to Convene in Angola to Close Infrastructure Gap 

Saudi Arms Ship

PRNigeria Fact-Check: No Evidence Italian Dockworkers Blocked Saudi Arms Ship Allegedly Bound for Israel

Saudi Arms Ship

FACT-CHECK: Did Italian Dockworkers Block Passage of Saudi Ship Carrying Arms for ‘Israel’?

AI-generated disinformation looms ahead of Nigeria’s 2027 elections

PRNigeria Fact Check: Does Delayed Baby Umbilical Cord Clamping Have Health Benefits? 

FACT-CHECK: Did a N10bn Lafia Flyover Collapse Three Weeks After Commissioning in Nasarawa?

REVEALED: The AES shadow game fueling anti-ECOWAS, anti-Western disinformation across West Africa 

‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?

FACT-CHECK: Was Sheikh Emami al-Hadi Arrested in Iran for Being a Mossad Spy?

Fact-Check: Did Bandits Die Mysteriously in Nupe Community After Kidnapping Spree?

Recent Posts

  • Nigerian Army Denies Losing Weapons to Bandits in Kwara Operation
  • Uba Sani Releases ₦2.3bn for Retirees and Families of Deceased Workers
  • Group Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage Cost
  • NDLEA Dismantles Cocaine Cartels Behind UK Shipments, Arrests Suspects, Destroys 25,000kg Skunk Nationwide
  • Kano Gov’t Investigates Alleged Diversion of N4bn Dala Inland Dry Port Funds
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Nigerian Army Denies Losing Weapons to Bandits in Kwara OperationUba Sani Releases ₦2.3bn for Retirees and Families of Deceased WorkersGroup Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage CostNDLEA Dismantles Cocaine Cartels Behind UK Shipments, Arrests Suspects, Destroys 25,000kg Skunk NationwideKano Gov't Investigates Alleged Diversion of N4bn Dala Inland Dry Port FundsACF Warns of Alleged Plot to Cripple Dangote Refinery, Urges FG InterventionTroops Neutralise Terrorists, Repel Boko Haram Attack in BornoPHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th AnniversaryTroops Nab Terrorists’ Logistics, Drug Suppliers in BornoS/Arabia-Trained Graduates to Begin Forum on Sustainable DevelopmentChristian Genocide and the Conspiracy against Nigeria By Femi Fani-KayodeWe Arrested 450 Terrorists, Rescued 180 Abducted Victims in One Month - MilitaryOver 100 Jerrycans of Petrol Seized as Police Foil Smuggling to Niger RepublicNAFDAC Seals Chinese Supermarkets, Cosmetics Shops in AbujaMining Marshals Arrests 5 Illegal Miners in Niger, Seize Logistics
X whatsapp