FG to announce refinery investors in coming month- Kachikwu

Minister of State for Petroleum, Dr Ibe Kachikwu

Minister of State for Petroleum, Dr Ibe Kachikwu

The Federal Government says it plans to announce the private investors in refineries in the coming month, Minister of State for Petroleum, Ibe Kachikwu said on Monday.

Kachikwu said he wants Nigeria to have a floating production storage and offloading (FPSO) unit for the production and processing of hydrocarbons, and for the storage of oil in 10 years.

Nigeria’s refining system means it is almost wholly reliant on imports for the 40 million litres per day of gasoline it consumes.

Agency Report