Abdurazak Isa invests N7bn in building modular refinery in Imo, Anambra
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Abdurazak Isa invests N7bn in building modular refinery in Imo, Anambra

Abdurazak Isa is one of those few Nigerians who are assisting the nation with their personal wealth to improve its downstream sector.

According to @ovieali on twitter, Isa invested the sum of N7 billion into the building of a modular refinery which will not only help the nation to meet its petrol demands but will provide more jobs and reduce the imports of refined crude oil.

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The twitter handle also added that the project is nearing completion as Isa’s modular refinery threatens the position of oil marketers in the country and will replace situation where the nations spends so much importing petrol products.

Meanwhile, Legit.ng earlier reported that General Yakubu Gowon (rtd), former head of state, stated that three refineries were built by his government in Port Harcourt, Warri and Kaduna for domestic consumption.

Speaking at the second International Conference and Exhibition of the Oil and Gas Trainers Association of Nigeria (OGTAN) in Lagos on Monday, April 15, the former head of state added that his administration had plans to build more refineries to export refined products, instead of giving the crude to various countries.

Legit.ng also gathered that on Thursday, April 25, the managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, said that Aliko Dangote’s Lagos refinery is central to oil generation capacity of the country.

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The NNPC chief said that when the refinery is completed, its production capacity is estimated at 650,000 barrels per day (bpd), which would more than double the present capacity. For years, Nigeria, which is regarded as the largest oil producer on the continent, has been importing its refined products because it lacks refineries.

For years, Nigeria, which is regarded as the largest oil producer on the continent, has been importing its refined products because it lacks refineries.

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Source: Legit.ng

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