BREAKING: FG Approves Construction Of New Refinery In Nigeria

FG has approved the construction of a new refinery in Nigeria.

 

NewsOnline Nigeria reports that the Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has announced the approval of a licence for the construction of a new refinery.

 

This Nigeria news platform understands that the approval was given to MRO Energy Limited, an energy company for the construction of a 10,000 Barrels Per Stream Day Refinery at Imode In Ughelli, Delta State.

 

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This development comes two months after the authority granted a license to Process Design and Development Limited to establish and construct a new 27,000 barrels per day refinery located in Dole-Wure, Akko area of Gombe State.

 

The authority in a post on its official X handle on Tuesday, said, “The Authority Chief Executive, Engr. Farouk Ahmed presented a Licence To Establish a 10,000 Barrels Per Stream Day Refinery at Imode In Ughelli, Delta State, to MRO Energy Limited.”

 

The latest development signifies that Nigeria now officially has about 11 modular and regular refineries, adding to the nation’s refining capacity.

 

Earlier this month, the Petroleum Products Retail Outlets Owners Association of Nigeria announced a collaboration with its partners, which is set to establish a new refinery with an initial capacity of 50,000 barrels per day.

 

However, despite this increase in the number of refineries, most of them remain moribund, with many not functioning at full capacity or efficiently.

 

The Nigerian Upstream Petroleum Regulatory Commission has fixed 770,500 billion of oil per day for domestic refineries.