Coming of Modular Refineries Will Lead to Cheaper Petroleum Products – Minister

September 16 15:35 2020

The Minister of Information and Culture, Alhaji Lai Mohammed, hasdescribed the coming into being of modular refineries in the countryas the result of the enabling environment created by theAdministration of President Muhammadu Buhari.
The Minister stated this in Ibigwe in Ohaji Egbema Local GovernmentArea of Imo State on Tuesday during a media tour of the WaltersmithModular Refinery and Petro-Chemical Company Limited, which is due forcommissioning next month.
“We can show Nigerians that while every government has been talkingabout modular refineries, no government has succeeded in turning thedream into reality until now,” he said.
Alhaji Mohammed said with the coming on board of medium scalerefineries like Waltersmith, Nigerians will soon experience cheaperpetroleum products.
“With this kind of refinery, all issues of subsidy become completelyirrelevant because we would be able to get fuel at a cheaper price,especially because everything that is being produced will be for localconsumption,” he said.
The Minister lauded the partnership between the Waltersmith Refineryand the Nigerian Content Development and Monitoring Board that holds a30% stake in the refinery, which will start with 5,000bpd, add25,000bpd in the second stage and then another 20,000bpd to bring thecapacity to 50,000bpd in the third and final phase.
He said the Administration will continue to showcase its monumentalachievements because it has performed well in the execution ofprojects across the country.
“I am glad we are here today blowing our trumpet because we havecreated an enabling environment for this project,” he said, after heand his entourage, as well as Governor Hope Uzodinma of Imo State andsome members of the National Assembly, were taken on a tour of therefinery, one of many of its type that are in different stages ofcompletion in the country.
In his remarks, the Executive Secretary, Nigerian Content Developmentand Monitoring Board, Mr. Simbi Wabote, said the Board believes thatat least 10% of Nigeria’s oil production should be refined through themodular refineries, because of its capacity to generate employment.
“With an average of ten direct jobs created for every 1,000 barrelsper day capacity of a modular refinery, we believe that about 2,500direct jobs and over 25,000 indirect jobs can be created if 10% ofNigeria’s production is refined using modular refineries,” he said.
Also speaking, the Chairman of Waltersmith Modular Refinery andPetro-Chemical Company Limited, Mr. Abdulrazaq Isa, said from 14October, 2020, 23 trucks will commence the loading of products such asDiesel, Kerosene, Heavy Fuel Oil and Naphtha from the refinery.
“What we are doing is in support of government initiative and this iscoming at the right time as the government is deregulating themarket,” he said. ”We really support the government policy onderegulation and removal of subsidies because it creates a market forwhat we are doing.”
The Minister and Governor Uzodinma, as well as the Chairman, SenateCommittee on Information and National Communication, Senator DanladiSankara; Chairman, House Committee on Information, NationalOrientation, Ethics and Value, Mr. Olusegun Odebunmi, and over 30journalists were conducted round the production facilities of therefinery by the Chairman, Mr. Isa.

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