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Business News of Thursday, 20 August 2020

Source: www.mynigeria.com

Buhari will end fuel importation in Nigeria - Sylva

Minister of State for Petroleum Resources, Chief Timipre Sylva Minister of State for Petroleum Resources, Chief Timipre Sylva

Minister of State for Petroleum Resources, Chief Timipre Sylva has disclosed that President Muhammadu Buhari is committed to putting an end to the importation of refined petroleum products into Nigeria.

Sylva said the government was working to reverse Nigeria’s status as a net importer of petrol and as such, had been supporting the establishment of modular refineries to boost indigenous production, Economic Confidential reports.

The minister stated this after inspecting the Azikel Hydro-Skimming Refinery, the first hydro-skimming private modular refinery being built by businessman, Azibapu Eruani in Yenagoa, Bayelsa State.

The refinery, which is about 75 per cent completed, has the capacity to process 12,000 barrels of crude per day.

In a statement issued in Abuja on Wednesday by the spokesperson for the company, Austin Ebipade, Sylva said the modular refinery would facilitate the Federal Government’s objectives towards attaining self-sufficiency in the production of refined products.