The Nigerian National Petroleum Company Limited, NNPCL, has advanced plans to establish a new refinery in Edo State after receiving a Certificate of Occupancy, C-of-O, from the state government.
Edo State Governor, Monday Okpebholo, presented the certificate to NNPCL’s Executive Vice President, Downstream, Alhaji Mumuni Dagazau, at the Edo State Government House on Friday.
Dagazau commended Okpebholo for supporting the proposed investment in the state.
On his part, Okpebholo said the issuance of the C-of-O to NNPCL was a deliberate effort to attract investments, expand the state's revenue base and create employment opportunities for residents.
DAILY POST reports that Edo State and NNPCL have sealed a partnership for the proposed refinery, which will be located in Oredo and Orhionmwon Local Government Areas. The project is expected to supply 20 truckloads of Premium Motor Spirit, PMS, commonly known as petrol, and 10 truckloads of Automotive Gas Oil, AGO, also known as diesel, daily.
The proposed refinery is scheduled for completion within 24 to 36 months.
However, progress on the proposed 10,000-barrel-per-day condensate refinery in Oredo, Edo State, comes as the Port Harcourt, Warri and Kaduna refineries, with a combined capacity of 445,000 barrels per day (bpd), remain non-functional, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority's, NMDPRA, August factsheet.
Meanwhile, NNPCL, under the leadership of Bayo Ojulari, had announced a shift from the sole public ownership model to a technical equity partnership arrangement for the rehabilitation and operation of the country's state-owned refineries.
DAILY POST recalls that the Federal Government, through NNPCL, has spent nearly N11 trillion on turnaround maintenance of the state-owned refineries.
NNPCL advances Edo refinery plan as three existing refineries remain non-functional
