The Federal Government, through the Department of Petroleum Resources (DPR), has approved the construction of Ikwe-Onna Refinery to be located in Ikwe, Onna Local Government Area of Akwa Ibom State.

The Approval To Construct (ATC) license for the modular refinery was conveyed to the investor in a letter with reference No:DPR/E&S/FAC/6239/S.308/V.2/23 and dated October 15, 2018.

A copy of the approval letter and the refinery project schedule shows the refinery capacity to be 5,000 barrels per day. The project, which is estimated to cost $60m, is expected to be commissioned in November, 2019.

The ATC was issued following the satisfactory attainment of the requirements for the license. In Nigeria, there are three stages of licencing for the establishment of private refineries: Licence to Establish (LTE), Approval to Construct (ATC) and Licence to Operate (LTO).

Source: Daily Trust