$60m Ikwe-Onna Refinery to begin operation in 2020

There are indications that Nigeria’s refining capacity would be boosted between 2019 and 2020, as stakeholders have started work on the $600 million Ikwe-Onna Modular Refinery in Akwa Ibom State. The Ikwe-Onna Refinery, incorporated in 2016 was granted Authority to Construct {ATC} license barely few months ago by the Federal Government and is expected to start production in 2019-2020.

At a stakeholders and project kick-off meeting at the Le Meridien Ibom Hotel and Golf Resort in Uyo, the Akwa Ibom State capital at the weekend, the Federal Government admitted that, the only way to deal with the proliferation of illegal refining in the Niger Delta is by the private-sector led establishment of modular refineries.

The Vice President, Prof. Yemi Osibanjo said the move would ease government involvement to fast track the bureaucratic processes surrounding issuance of approvals and licenses. Osibanjo, who was represented by the Senior Special Assistant on Economic Matters to the President, Mr Iyamu Edobor said he was elated to note that, having completed all the licensing processes and required approvals, everything is now set for the commencement of the construction of the 5,000 barrels per day Ikwe-Onna modular refinery.

Source: Vanguard

 

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