Nigeria refineries incur N18bn operating deficit in three months ― Report Nigeria refineries incur N18bn operating deficit in three months ― Report Share Despite their current inoperative state, Nigeria’s three refineries, Port Harcourt, Warri and Kaduna incurred an approximated N18billion operating deficits between August to October 2020. Although there was no associated crude plus freight cost for the refineries since there was no production, the total operational expenses for the months under review is N20billion. According to the Nigerian National Petroleum Corporation (NNPC) 2020 Monthly Financial and Operations report for August, September and October, the combined value of output by the three refineries (at Import Parity Price) for the months is put at N173million.