FG Urges Nigerians To Invest In Refinery Business

The Director-General of the Department of Petroleum Resources (DPR), Sarki Auwalu, an engineer, has called on Nigerians to avail themselves of the enabling environment created by the department and invest in refining petroleum products.

Auwalu, who spoke during a facility tour of the Niger Delta Petroleum Resources (NDPR) at Ahoada in Rivers State, said the DPR was a business enabler and opportunity providers, adding that Nigerians have a good opportunity to explore the rich oil and gas reserve and invest in refinery business.

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He warned those involved in illegal refining to desist from doing so, but rather engage in legal refining of petroleum products, saying that DPR is ready to grant licences to genuine investors in refinery business.

“Locally, we have about seven private refineries, inclusive of the Niger Delta Petroleum Resources refinery, with 11,000 barrels. We have another 10,000 barrels yet to be commissioned. We have another 5,000 barrels in operations and 650,000 barrels yet to be commissioned, as well as 200,000 barrels in the process. And we have some licences exceeding 20,’’ he said.

He said seven modular refineries were producing at 40,000 barrels, while the government’s 445,000 were not fully utilised.

Source:- Daily Trust