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The Nigerian Government Approved The Nigerian Government Approved $1.5 Billion Dollars For The Repairs Of The Port harcourt Refinery

Trillionn
By Trillionn | self meida writer
Published 26 days ago - 0 views

Nigeria known to be a oil-producing country is also a world member of the OPEC (Oil-producing export countries) .with its weight of producing over 1.8 million barrels a day it doesn't possess a working refinery, since independence Nigeria is known to have three refineries located in port Harcourt, Warri and lasting till date none of them have recorded any production.

This has caused controversial issues on social media that a country known for producing over 1.8 million barrels of crude oil has no working capacity refinery. Later today the federal executive council has signed billions of naira for the repairs of the Port Harcourt refinery that will take up to 44 months to get complete.

The Federal Executive Council on Wednesday approved the plan by the Ministry of Petroleum Resources to rehabilitate the Port Harcourt Refinery with $1.5bn.

The decision was taken at the weekly meeting of the council presided over by the President, The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this to State House correspondents at the end of the meeting at the Presidential Villa, Abuja.

The minister said, “The Ministry of Petroleum Resources presented a memo on the rehabilitation of Port Harcourt refinery for the sum of $1.5bn, and that memo was $1.5 billion and it was approved by council today.

“And I believe that this is good news for Nigeria.

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