The Vice-President, Yemi Osinbajo, has assured that 10 modular refineries were at advanced stages of development in the Niger Delta.
According to his Special Assistant on Media and Publicity, Laolu Akande, the 10 modular refineries were located in five out of the nine states in the Niger Delta region.
They are located in Akwa Ibom, Cross River, Delta, Edo and Imo states.
Osinbajo said that two of the refineries, Amakpe Refinery (Akwa Ibom), and OPAC Refinery (Delta State), have their mini-refineries modules already fabricated, assembled and containerized overseas, ready for shipment to Nigeria for installation.
The total proposed refining capacities of the 10 licensed refineries stands at 300,000 barrels.
“Advanced stage of development for the modular refineries means that the projects have passed the Licence to Establish (LTE) stage, while some have the Authority to Construct (ATC) licence or close to having it because they have met some critical requirements in the Licensed stage.
“There are three stages in the process of refinery establishment; Licence to Establish (LTE), Authority to Construct (ATC) and Licence to Operate (LTO).’’
The Vice-President believes the modular refinery initiative which featured prominently in recent talks between the Federal Government and the oil-producing areas, as represented by PANDEF, will also reposition the petroleum industry.
They would ensure self-sufficiency of petroleum products while serving as a disincentive for illegal refineries and oil pollution.
According to him, the Buhari Administration was committed to promoting the establishment of privately financed modular refineries so as to increase local refining capacity, create jobs, ensure peace and stability in the Niger Delta.
