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Wednesday, February 28, 2024

Jonathan Vows To Grow Petrol Refining Capacity



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Abuja—President Goodluck  Jonathan Thursday assured investors that his Government was willing to give licences to those interested in setting up refineries in the country, as part of the overall effort to raise the nation’s petroleum refining capacity and reduce the importation of refined products.
President Jonathan was speaking to a delegation of investors from Brazil, led by Mr. Reuben Voigt, chairman of the Voigt Group, at State House.
He said, ‘Nigeria has four refineries, but their combined capacity does not meet the country’s needs, so we are willing to approve applications for refining licences’.
The President said Nigeria is still a green area in terms of investments, and Government has opened up sectors of the economy, which were previously restricted, to private sector investment.
He directed the Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, to hold discussions with the Voigt Group, to explore areas of mutual cooperation. The Ministers of Housing, Trade and Investment, Power and FCT (State) also attended the discussions.
Earlier, Mr. Voigt had said they were donating 120,000 housing units to Nigeria over three years, adding that the Voigt Group was interested in investing in construction, housing, power plants , petroleum refining and oil spillage clearing.
The delegation was led to State House by Mrs. Ngozi Olajeme, of the Nigeria Social Insurance Trust Fund.

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