Nigeria's leading finance and market intelligence news report.

Fixing broken refineries is burning cash Nigeria does not have

… Ceding operations to the private sector while retaining part control seen as better strategy

Over the past 12 years, Nigeria tried and failed four times to crank up its aging and unprofitable refineries. Now, the state-run energy company is giving it another shot, but this time around the government is broke. Nigeria is currently on a fresh drive to rehabilitate its ailing and under-performing refineries as sources confirm the…

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