Thursday, 17 December 2015

FG approves construction of new refineries

The Federal Government has unveiled plans to build new refineries as part of efforts to ensure that the country refines substantial volume of its fuel needs.

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, made the disclosure during an interactive session with members of the National Assembly in Abuja.

The Minister, while pledging his readiness to work closely with the National Assembly to ensure the speedy development of the country’s oil and gas sector for the benefit of Nigerians and the entire country, pointed out that the new refineries would be sited within the old ones and would be funded by private investors. The idea of citing the new refineries within the old ones, according to him, is to enable the refineries share power, pipelines and other resources. 
He stated that the petroleum sector under his watch would ensure that the Nigerian Content policy would transform the oil and gas industry into the economic engine for job creation and national growth.

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