The Imo State Government is to go into a strategic partnership with the Nigerian National Petroleum Corporation, NNPC, to establish a greenfield refinery in the State.
Governor of the State, Ikedi Ohakim stated that the state has the highest gas deposits in the country and opined that the establishment of the refinery will go a long way in boosting the state economy hence bringing the federal government’s presence close to the people of Imo State.
Ohakim pledged to provide adequate security for all NNPC installations in the state, and disclosed that already his administration has invested over N 6 billion (£ 25.3 million) in the security of lives and properties. The Governor declared his total support for the deregulation policy of the federal government and urged the government to implement the policy without further delay while lamenting the over N 500 billion (£ 2.1 billion) reportedly spent on the petroleum subsidy annually.
Security is a major problem in Nigeria, with Shell reporting an increase in sabotage on its pipelines in the Southern Niger Delta over recent weeks. According to Babs Omotowa, Shell's Africa vice president, health and safety, 98% of pipeline leaks are caused by deliberate acts of sabotage by militants or thieves.
Ohakim went on to say, “I am an apostle of deregulation and the earlier the country deregulate the petroleum sector the better for all of us. Nigeria spends so much on petroleum subsidy and we cannot continue like that as a country”.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/16082010/nnpc_to_build_greenfields_refinery_in_imo_state_nigeria/