Nigeria Urges Sale of Four State-Owned Oil Refineries to Private Investors Immediately.

Nigeria's four refineries, with a combined capacity of 445,000 barrels per day, have been idle for over two decades, sparking calls to sell them off immediately. The country's public refineries have seen no significant production since the late 1990s.

Nigeria's four public refineries, with a combined capacity of 445,000 barrels per day, have been idle for over two decades, except for the recent restart of the Port Harcourt Refinery. The country's reliance on imported refined petroleum products has significant implications for its economy and energy security. With no operational refineries to meet domestic demand, Nigeria is heavily dependent on foreign imports, which can be volatile in terms of price and supply. This situation raises concerns about the country's ability to ensure a stable and affordable energy supply for its citizens.