FG to grant waivers on imported equipment for Akwa Ibom modular refinery

The Federal Government has promised to support waivers on import duty on machinery, equipment and components for the 5,000 barrels per day Ikwe-Onna modular refinery in Akwa Ibom State and other modular refinery projects.

The government said it would also facilitate access to the Nigerian Content Intervention (NCI) fund managed by the Bank of Industry (BOI) for the development of modular refineries in the country.

The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, made the pledge at a stakeholders and project kick-off meeting for the refinery in Uyo, Akwa Ibom State recently.

The pledge by the government came following the granting of Approval to Construct (ATC) license for the $60 million Ikwe-Onna refinery scheduled to be completed between 2019/2020.

Source: Daily Trust




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