The unprofitable refineries will be sold, an announcement made by the Nigerian government.
Oil sector group leaders have been instructed to sell unprofitable factories.
Some refineries in the country do not provide much foreign currency revenue because of their unproductivity, a main reason for the government’s decision.
This sale of refineries is part of the national reform of the entire oil industry.
This reform intends to eliminate all services responsible for regulating the sector. These will be replaced by a government agency for much more effective management.
It should be noted that Nigeria had to sell electricity and telecommunications companies that were considered unprofitable at the time.