Post by Henry Emeka (@Emekus)

Where the money went after the failed $2.39 billion refinery rehabilitation

What the $2.39 billion was originally spent on according to multiple public reports, the funds were allocated under earlier administrations for:

Port Harcourt Refinery rehabilitation – $1.5 billion

Warri + Kaduna Refineries rehabilitation – $1.484 billion

These contracts were awarded mainly to Saipem S.p.A. and Saipem Contracting Nigeria Ltd.

This is the money meant for Nigerians refer to when they say the $2.39 billion flop.




https://tgnews.com.ng/after-2-39bn-flop-nnpcl-signs-fresh-contract-for-completion-of-ph-warri-refineries/?utm_source=copilot.com



https://nairametrics.com/2026/02/08/nigerias-2026-budget-50-capital-projects-to-share-n4-23trn-in-proposed-spending/?utm_source=copilot.com


https://www.govspend.ng/explore/?utm_source=copilot.com

https://nairametrics.com/2026/02/08/nigerias-2026-budget-50-capital-projects-to-share-n4-23trn-in-proposed-spending/?utm_source=copilot.com

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