The Federal Government announced on Tuesday that a consortium of South Korean investors is set to build four refineries in Nigeria, each with a capacity of 100,000 barrels.
This development was revealed by the Minister of State for Petroleum Resources, Heineken Lokpobiri, during the inaugural summit organized by the Crude Oil Refineries Owners Association of Nigeria in Lagos.
Lokpobiri emphasized the government’s commitment to fostering a conducive environment for investment in the refining sector.
Recently, we approved the invitation of a South Korean consortium intending to build four model refineries, each with a capacity of 100,000 barrels, across different locations in Nigeria,” he stated.
Finally, Lokpobiri revealed that to combat crude oil theft and illegal refining activities, the ministry has established an international emergency committee focused on developing home-grown solutions for refining in Nigeria...
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