Business
Modular Refineries: FG Issues 44 Firms Licences
The problem of illegal bunkering in Nigeria may soon be over as the Federal Government has given 44 companies licences to operate modular refineries, just as a Chinese bank has offered to sink &500m into the project.
The Minister of State for Petroleum Resources, Dr Ibe Kachukwu disclosed this at the Niger Delta New Vision’s one-day workshop for media and civil society organizations (CSOs) in Port Harcourt.
Dr Kachukwu said that 10 out of the 44 companies have proceeded to the next level and are ready to go to site and commence the construction of the refineries, adding that the Federal Government has approved their engineering design, land and operation.
The minister who was represented by his Senior Technical Adviser, Engr. Rabiu I. Suleman, said two of the 10 companies would be mechanically completed by December.
The two companies which include OPAC at Kwale Delta State and Niger Delta Exploration and Production (NDE & P) in Port Harcourt are almost completed and would commence test run by December 2018.
According to Suleman, these two refineries would be commissioned for real business for the first quarter of 2019, adding that Walter Smith in Imo State and Okeh Onah in Akwa Ibom would follow immediately.
He said that Smith has done the ground breaking ceremony and paid the 40% equity through the local content development since the company already owns an oil block in the state.
The petroleum expert called on the Niger Delta region to utilize the opportunity provided by the modular refinery operation to create employment and boost the economy of the region.
Meanwhile, a Chinese bank, Maxim Bank, has already committed $500 million to the modular refinery project.
The money is to be made available through the Bank of Industry as loan for the purpose of supporting companies that are willing to build modular refineries.
Also speaking, the Senior Special Assistant to the President on Niger Delta Development, office of the Vice President, Mr Edobor Iyamu, said the objective of the workshop was to sensitise the media and civil society organizations on what the government is doing in terms of infrastructural projects and other programmes.
The new vision, according to him, is a partnership between the government, private sector and local people, adding that it becomes a challenge to “our community leaders and all of those influential people of the Niger Delta region to come together and explain to those involved in harmful activities to consider the interest of the communities”.
Iyamu said that the Federal Government has committed itself to the programme of the Niger Delta adding that the maritime University and other projects are up and running and so the need for partnership.
By: Lilian Peters.
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