The Minister of State for Petroleum Resources, Ibe Kachikwu, Friday pleaded with modular refinery licensee, Captain Emmanuel Ihenacho, to complete his 20,000 barrels per day modular refinery on or before December 2019.
Ihenacho is the promoter of the Eko Petrochem and Refining Company Limited, owners of the refinery based in Lagos.
Earlier in the year, Kachikwu promised to resign his appointment if Nigeria fails to attain sufficiency in petroleum products refining and stop importation by the end of December, 2019. The minister had equally begged Alhaji Aliko Dangote, Chief Executive Officer, Dangote Petrochemical and Refinery Limited, to complete his 650,000 barrels per day capacity refinery before the expiration of the deadline.
Speaking in Lagos during the signing of United States Trade and Development Agency (USTDA)’s $1 million grant to Eko Petrochem and Refining Company Limited and official presentation of Tomaro Industrial Park as Free Trade Zone, Kachikwu, who was represented by Engineer Rabiu Suleiman, Special Adviser, Technical, said that the federal government would support the realization of the refinery by granting pioneer status, securing duty waivers, import facilitation of equipment and engineering needs where necessary.
Chairman of Integrated Oil and Gas, owners of Eko Petrochem and refining, Emmanuel Ihenacho, said the grant would be used to finance the implementation of 20,000 barrels per day crude oil refinery located on 75 hectares of land at Tomaro Island in Lagos.
“We are delighted by the USTDA’s award and are very grateful to the American government and its trade development agency for the delivery of this very crucial and welcome support. By this grant, the agency has demonstrated its commitment to the infrastructure development and economic growth of Nigeria, especially in the areas of export technology and services that promote the country’s refining capacity”, he said.
This is the first time any US agency would be intervening in the nation’s refining infrastructure development.