Baru: Rehabilitation of refineries will reduce importation of petroleum products

Group Managing Director of the Nigeria National Petroleum Company (NNPC), Dr. Maikanti Baru, yesterday expressed the hope that completion of the ongoing rehabilitation of the nation’s refineries in Port-Harcourt, Kaduna and Warri would greatly reduce petroleum products import in the country.

Speaking during the NNPC Special Day at the ongoing 30th Enugu Internal Trade Fair, Baru announced that the revitalization of the plants had commenced in earnest, starting with the 210, 000 barrel per stream-day Port-Harcourt refinery which first phase kicked off last month and being executed by Milanbased Maire Technimont S.P.A, in collaboration with its Nigerian affiliate, Technimont Nigeria.

“The value derivable from the rehabilitation of the refineries would include substantial reduction in petroleum products’ imports with its attendant toll on forex; buoying the local economies of the areas of operations of the refineries in respect of the expected spinoff effects of their activities on secondary employment opportunities among others,” he said.

The NNPC GMD said that all nook and crannies of the country were kept wet with petroleum products by the corporation, adding that no fewer than 55 depots across the country were fully stocked with petroleum products, including Premium Motor Spirit (PMC) otherwise called petrol.

Earlier, the President of Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Pharm. Sir, Emeka Udeze urged NNPC to take steps to address issues with a view to removing cobweb of shenanigans that had negatively affected the operations of the downstream sector of the oil industry.

SOURCE: newtelegraphng.com