Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, said that the Federal Government is to give licenses to the private sector individuals to build refineries, Today reported. His comments came during the launch of the country’s new roadmap “The 7 Big Wins.”
This comes as Azikel Group’s President, Eruani Azibapu, signed an agreement for the construction of 12,000b/d Azikel Refinery with Ventech Engineering LLC in Houston Texas, according to The Nation. The project will commence operation in 2018. The refinery is situated adjacent the Gbarain-Ubi Gas gathering facility in Obunagha-Gbarain, Bayelsa State. Azibapu explained that the proximity of the refinery to the feed stock from Shell has given it a very clear advantage to start early.
Azikel Refinery is among the 22 private refineries licensed by Nigerian President, Mohammad Buhari, in 2015 with the goal of creating value to Nigerian crude, self-sufficiency in refined products and employment generation.
Egypt Oil&Gas reported earlier that Buhari, had unveiled Seven Big Wins, as part of a short to medium term strategy framework with robust priorities to grow Nigeria’s oil and gas sector. Nigeria launched this $10b infrastructure program late October in its restive Delta region. Kachikwu added that investments would “not necessarily” come from the federal government, but rather from “oil companies, investors, individuals.”