Fidelity bank banner Camano banner
Kachikwu to launch downstream petroleum infrastructure rebirth plan

By Chineme Okafor, Abuja on 27/07/2018

Views: 604

•Minister of State for Petroleum, Dr Ibe Kachikwu
•Minister of State for Petroleum, Dr Ibe Kachikwu

The Minister of State for Petroleum, Dr Ibe Kachikwu, would soon launch a new plan to revive operational infrastructure in Nigeria’s downstream petroleum sector and open them up for private sector investments across their value chains

Speaking to THISDAY in Abuja as part of a follow up on Nigeria’s recent signing of a Memorandum of Understanding (MoU) with the Niger Republic to build a 150,000 barrels per day capacity refinery at a Katsina State border town between both countries, Kachikwu’s Senior Technical Adviser (STA) on refineries and downstream infrastructure, Mr. Rabiu Suleiman, said the rebirth plan would among other things, also consider how best to utilise the various downstream assets of the Nigerian National Petroleum Corporation (NNPC) that are idle.

He noted that the country’s downstream sector was not in a good shape, and “that is why going forward, the Minister of State for Petroleum Resources is planning to launch the downstream infrastructure rebirth for the country, where we will look at various infrastructure of the downstream – pipelines, tank farms and all other facilities – how adequate are they for this country”.

He said the plan would determine the infrastructure deficiencies and how to optimise the utilisation of those ones that are currently redundant.

It would also consider necessary investments that are needed for private investors to enhance and close the gap of infrastructure and open up the place so that people could build their own pipelines and charge tariffs.

According to him, the rebirth plan would ensure that marketers could put their products into somebody else’s pipeline, move and receive them elsewhere.

He equally suggested the plan would consider the best models to get downstream assets owned and operated by the NNPC, albeit inefficiently, and which have been idle, to get them working again.

Also speaking on the planned border refinery, Suleiman, who is leading the project’s technical committee, explained it was in line with Nigeria’s strategy to become a hub for refined petroleum products in Africa.

He reiterated that the project would be private sector financed with no financial commitments from the governments of both countries, adding, however, that the NNPC and its Nigerien counterpart might be allowed to take minor strategic shareholdings in the project.

He explained: “It is a competitive world. Nigeria has the intention without excuse to be the hub of hydrocarbon business in Africa and therefore any opportunity that will give us that unique position to be the hub, we will grab it because it has a potential of business activities in all aspects of life.

•Excerpted from THISDAY report

Source News Express

Posted 27/07/2018 10:50:25 AM

 


 

CLASSIFIED ADS

 

You may also like...
Boko Haram: Dokubo curses Sheikh Gumi, el-Rufai, Nyako,...

Funding shortfalls threaten education for millions of children...

Nigerian Army crackdown on Shiites unjustified: Human Rights...

Governor Ortom parading fake university degree — Akume...

Supreme Court to phase out manual forms, introduce...

National Human Rights Commission enters ‘FOI Hall of...

Peterside condemns Wike, PDP’s attack on judiciary, says...

6 university lecturers lose jobs over sexual harassment...

Zimbabwe’s president names top military officers in new...

200 reported dead after boat carrying African migrants...

How Delta expended N33.4bn Paris Club refund —...

Sadiq Khan sworn in as mayor, promises a...

 

Latest News Election Tribunal: The hurdles before Atiku — Lawyers North-East, North-Central battle for senate presidency Lagos Govt defends racist Chinese restaurant Fireworks in Fayose’s trial as judge, EFCC’s lawyer clash Ex-football star arrested for drug trafficking NDLEA uncovers another drug factory in Enugu INEC setting dangerous, evil precedence with inconclusive polls — Dogara NDDC steps up partnership with EU on sustainable water projects Imo workers reject Okorocha’s electronic payment Three dead as robbers, police clash in Lagos Court orders arrest of Bayelsa politician, two others over abduction of DCP Okunola 2019 elections, a rape of democracy, says Labour

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (460,760 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (410,327 views) Shameless Genevieve Nnaji exposes breasts in public (346,266 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (297,164 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (261,477 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (236,425 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (222,528 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (204,237 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (192,572 views) 10 cars more expensive than Jets (177,127 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (176,867 views) Lagos plane crash: Journalist releases victims’ names (175,726 views)

 

NLNG call for entries

CBN banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (81) Business & Economy (4,093) Business Verdict (60) Columnists (1,007) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (596) Features (725) Global Business Monitor (327) ICT Monitor (27) International (3,200) Interview (174) Live Commentary (28) Love Matters (153) Maggie's Blog (189) News (44,075) Opinion (1,204) Pidgin (17) Politics (10,287) Religion (960) Sports (1,925) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera