The Nigerian National Petroleum Corporation (NNPC) has announced that it will reopen the Warri Refining and Petrochemical Company (WRPC) on Thursday, Reuters reports.

Kachikwu had during his official visit to the refinery on the 3rd of September announced that the refinery stopped production temporarily due to lack of maintenance.

Emmanuel Kachikwu today also revealed to the parliament that the country has been losing $15 billion in investment every year as a result of lack of Petroleum Industry bill (PIB). He confessed that on taking up the position as the NNPC managing director he had sworn never to allow the absence of the PIB stop him from executing his duty in the sector.

Kachikwu disclosed that Nigeria would not have suffered those losses if doubts surrounding the bill had not been revealed to investors.

While speaking on the fuel scarcity issue, the Group Managing Director blamed the closure of some Petroleum stations on false report concerning the reduction in the price of petroleum products.

He however assures the general public that the scarcity of fuel would be over soon adding that the country has sufficient petroleum products which would last for the next 40 to 50 days.