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Oil and Gas

6 Modular Refineries To Commence Operations

The Federal Government has disclosed that six modular refineries it licensed would soon commence operations in the country in fulfilment of President Muhammadu Buhari's commitment to grow local content in the Niger Delta region. The senior special assistant to the President on Niger Delta Affairs, Mr. Edobor Iyamu, said this at a "Dialogue on Critically Appraising Mechanisms Used To Transfer Benefits of Resource Extraction to the Niger Delta Region in Uyo on Tuesday. Iyamu said Buhari was determined to ensure that the people of the Niger Delta benefit from the opportunities that accrue from oil exploration in their area. "The Federal Government had kept its word by ensuring that the refineries were not only given licenses but also encouraged to begin production. "The present Federal Government has put conducive environment for investors to open modular refineries in the country, he said. According to him, government has approved zero duties to investors on modular refinery equipment. "Let us not forget that in previous administration, 35 modular licenses were issued, nobody did anything about it. "The licenses were issued and people just put the license in their suitcases. Why, because they were benefiting from the era of petroleum subsidy. "I was going to say also that because of the policy of this government which is zero duties, it has encouraged a lot of investors into the space. "'So, today, as I said, we have six modular refineries, and I have been there myself, not talking about things I read or saw from newspapers. "I went there physically to inspect the modular refineries, Iyamu said.

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