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Baru reveals how he convinced refinery investors to site in A’Ibom

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Fresh details have emerged on why a new set of investors in oil refinery changed their mind to locate the plant in Akwa Ibom State.

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, on Thursday said “Although the preferred location of the investors was not Akwa Ibom State, he had convinced them to consider establishing the refinery there in order to leverage, especially on the state’s deep coastline”.

In his defence, he argued that Akwa Ibom State is well-positioned geographically to have a refinery which will tap great advantage from the emerging deep seaport.

A statement issued by the NNPC spokesperson, Ndu Ughamadu, said “The investors have been coming to us and I have seen one that is quite promising. It is in this light that I encouraged these investors to come and see the state government and discuss”.

Baru therefore called on the state government to explore partnership opportunities provided by investors towards establishing the refinery in the state.

Business Hilights recalls that already, the federal government had earlier in the week given approval to the Ibom Deep Sea Port project of the state government.



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