Home Energy FG to spend $1.12 billion to revamp refineries — Minister

FG to spend $1.12 billion to revamp refineries — Minister

The Federal Government has said it would require about $1.12 billion to finance a comprehensive turnaround of the country’s refineries.

The Minister of state for Petroleum Resources, Ibe Kachikwu, disclosed this on Thursday during a media briefing in Abuja.

The minister said the government had determined what needs to be done to meet set target, while those with the right technical and financial capacities would be chosen to handle the jobs.

With the plan, the Minister said he was confident the deadline of ending importation of petroleum products by 2019 was achievable.

“Everyone needs to know why this is very important. The press needs to sensitise the people that the 2019 deadline is possible,” the minister said.

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