The Petroleum minister Diezani Allison Madueke while speaking to journalists in Abuja, stated that federal government participation in the running of new refineries will be minimal in order to allow better efficiency.
As pressure continues to mount on the Federal Government to boost Nigeria’s refining capacity, the Petroleum Minister said that plans for the green field refineries (new refineries) to be located Bayelsa, Lagos, and Kogi states envisaged to increase the Nation’s refining capacity by 750,000bpdb (barrels per day) in contrast to the current 445,000 bpd capacity, is still on course.
Diezeani added that besides this move, the sector is being thrown open to capable investors and the federal government participation in the running of the new refineries will be minimal to allow better efficiency.
She was speaking at a meeting in Abuja with heads and operators of the nation’s refineries and other key players in the sector on how to confront the issues stalling local production.
In a seperate event, the Kalu Idika Kalu led task force on refineries was inaugurated with a 60 working days timeline to complete its mandate of unravelling the issues bedevilling local refining.