The state-owned Nigerian National Petroleum Corporation (NNPC) has opened bids for the engineering, procurement and construction (EPC) phase of the rehabilitation of the Port Harcourt Refining Company (PHRC), which operates a 210,000 bbl/d (10.5 Mt/year) refinery in Port Harcourt. NNPC owns two other refineries: Kaduna (110,000 bbl/d) and Warri (125,000 bbl/d). They have a have a very low capacity utilisation rate (2.2% in 2019). The country plans to hand over its refineries to private firms under operation and maintenance contracts once they are revamped.
In addition, the Central Bank of Nigeria (CBN) intends to make NGN250bn (US$660m) available for infrastructure funding to expand gas consumption and reduce reliance on imported fuels. The country plans to have one million gas-powered cars by 2020 and convert about 40% of its fleet within 10 years.
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