Business Hilights

Tracking Nigeria's Headline Business News Online

Osinbajo dispensing fuel

North, Bayelsa taking lead in development of Modular refineries–NNPC

Ad 2
Ad 3

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has revealed that whereas all is set for the ground-breaking of Bayelsa State Modular Refinery, Kaduna States are already championing a proposal to co-locate another refinery close to the KRPC with the intent of sourcing Nigerien crude for its operations.

Besides, NNPC said other Greenfield refineries were to be brought on board soon in Kano and Kaduna, stressing that they would source their crude from Niger Republic.

According to him, the designs for the proposed refineries in Kano and Kaduna were ready and that the construction would commence this year.

On the licencing of Modular refineries, NNPC boss stated that “So far, about 35 interests for modular refineries have been declared and the Department of Petroleum Resources has issued licences to about 13, and I have been invited to the ground-breaking of the first one in Bayelsa next month”.

Though he claimed that the Federal Government and the NNPC would continue to encourage private sector initiatives that would bring in competition into the petroleum products supply and distribution network, he was silent on why upon 35 applications only 13 sailed through.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.