ABUJA- Thursday 5 August 2021: The Federal Executive Council has approved contracts for the rehabilitation of Warri and Kaduna refineries at a cost of $1.4 billion.

The breakdown shows that $897 million is earmarked for the Warri refinery and $586 million for Kaduna refinery.

Nigeria has four refineries – including two in Port Harcourt – but all have struggled to function optimally as the country continues to import petroleum products.

The rehabilitation is expected to turn around the refineries and set them up to meet local oil demands.