Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020
News Every Day |

We’ll get fuel at cheaper price soon — FG

We’ll get fuel at cheaper price soon — FG

We'll get fuel at cheaper price soon — FG

By Emmanuel Elebeke

The Federal government has assured that fuel will soon sell at a cheaper price.

The Minister of Information and Culture, Alhaji Lai Mohammed, made the revelation at Ibigwe in Ohaji Egbema Local Government

Area of Imo State during a media tour of the Waltersmith Modular Refinery and Petro-Chemical Company Limited, which is due for commissioning next month.

With this kind of refinery, the Minister said all issues of subsidy will become completely irrelevant because we would be able to get fuel at a cheaper price, as everything that is being produced will be for local consumption.

READ ALSO: Fuel price, Electricity tariff Hike: NLC in emergency meeting (VIDEO)

He described the coming into being of modular refineries in the country as the result of the enabling environment created by the Administration of President Muhammadu Buhari.

“We can show Nigerians that while every government has been talking about modular refineries, no government has succeeded in turning the dream into reality until now,” he said.

The Minister lauded the partnership between the Waltersmith Refiner and the Nigerian Content Development and Monitoring Board that holds a 30% stake in the refinery, which will start with 5,000bpd, add 25,000bpd in the second stage, and then another 20,000bpd to bring the capacity to 50,000bpd in the third and final phase.

He said the Administration will continue to showcase its monumental achievements because it has performed well in the execution of projects across the country.

“I am glad we are here today blowing our trumpet because we have created an enabling environment for this project,” he said, after he and his entourage, as well as Governor Hope Uzodinma of Imo State and some members of the National Assembly, were taken on a tour of the refinery, one of many of its type that is in different stages of completion in the country.

In his remarks, the Executive Secretary, Nigerian Content Development and Monitoring Board, Mr. Simbi Wabote, said the Board believes that at least 10% of Nigeria’s oil production should be refined through the modular refineries, because of its capacity to generate employment.

READ ALSO: Fuel, Electricity tariff hike: civil society protest in Osun

“With an average of ten direct jobs created for every 1,000 barrels per day capacity of a modular refinery, we believe that about 2,500 direct jobs and over 25,000 indirect jobs can be created if 10% of Nigeria’s production is refined using modular refineries,” he said.

Also speaking, the Chairman of Waltersmith Modular Refinery and Petro-Chemical Company Limited, Mr. Abdulrazaq Isa, said from 14 October 2020, 23 trucks will commence the loading of products such as Diesel, Kerosene, Heavy Fuel Oil, and Naphtha from the refinery.

“What we are doing is in support of government initiative and this is coming at the right time as the government is deregulating the market,” he said. ”We really support the government policy on deregulation and removal of subsidies because it creates a market for what we are doing.”

The Minister and Governor Uzodinma, as well as the Chairman, Senate Committee on Information and National Communication, Senator Danladi Sankara; Chairman, House Committee on Information, National Orientation, Ethics and Value, Mr. Olusegun Odebunmi, and over 30 journalists were conducted round the production facilities of the refinery.

Vanguard

The post We’ll get fuel at cheaper price soon — FG appeared first on Vanguard News.



Read also

Labour MP Claudia Webbe charged with harassing a woman, CPS reveals

Britain, EU start key week of Brexit talks with ‘better mood music’

The Ecological Impact of Militarism



News, articles, comments, with a minute-by-minute update, now on Today24.pro




Today24.pro — latest news 24/7. You can add your news instantly now — here