Kachikwu insists Nigeria won’t sell refineries
Written by Morenike Adebayo on February 20, 2018
The minister of state for petroleum resources, Ibe Kachikwu, has said that the federal government will not sell its refineries, but rather make Nigeria the refinery corridor for the rest of the continent.
The minister said this today while speaking on the short and medium term priorities directed towards growing the country’s oil and gas industry at the Nigeria International Petroleum Summit in Abuja.
According to him, a dearth in oil and gas infrastructure has affected the sector’s refining capacity which birthed an infrastructural map by government to address all the defects in crude pipeline and their leakages, depots and all related aspects.
Kachikwu said the federal government will ramp up investments such that new refineries will be built across the country. On Monday, Kachikwu had said that Nigeria targets to raise its domestic refining capacity from fourteen percent to ninety percent between the next eighteen to twenty months.He said the vision is to have Nigeria refine most of its crude locally rather than exporting them.