Fuel Scarcity: NNPC, DAEWOO sign MoU to rehabilitate Kaduna refinery

President Muhammadu Buhari expressed delight as he witnessed the memorandum of understanding (MoU) signing between Nigerian National Petroleum Company Ltd and Daewoo Group to rehabilitate the Kaduna refinery.

Buhari’s media aide Femi Adesina announced this in a statement on Thursday.

The president was “particularly excited” as the signing came against the backdrop of the ongoing rehabilitation of the Warri refinery by Daewoo, said the statement.

According to the statement, when completed, the Warri refinery rehabilitation works will, at the first instance, deliver fuel production before the first half of 2023.

“Daewoo Group has massive investments in the automobile, maritime and other sectors of our economy. I am also aware that Daewoo is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC and her partners,” said Mr Buhari.

The president said he looked forward to delivering ongoing projects, especially at the Warri and Kaduna refineries and the NLNG Train Seven.

”This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria. I thank you for your faith in Nigeria,” Mr Buhari told the Korean conglomerate at the end of the ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit.

Buhari is expected back in Abuja from Seoul on Thursday night.