The Federal Government is targeting in the next five years, local refining of over 2.555 billion barrels of crude oil worth over N120trn.
The Executive Secretary of the Nigerian Content Development Monitoring Board, Simbi Wabote, disclosed on Monday.
Wabote revealed this during an interview with our correspondent on the sidelines of the ongoing Nigerian Content Midstream-Downstream Oil and Gas Summit 2022, organized by the board in Lagos.
“The Ministry of Petroleum Resources under the leadership of President Muhammadu Buhari has rolled out the Refining Roadmap with emphasis on rehabilitation of the existing four national refineries, co-location of new refineries, construction of greenfield refineries, and construction of modular refineries. From all of these, the government expects more than a 1.4million barrels per day within the next five years,” he said.
According to Wabote, about 400,000bpd is expected from the rehabilitation of the NNPC refineries in Port Harcourt, Warri, and Kaduna, using a target performance of not less than 90 percent of nameplate capacity.
In the aspect of modular refineries, he said the NCDMB is catalyzing to enhance the realization of the refining roadmap.
“Our partnership with Waltersmith resulted in the delivery of the 5,000barrels per day modular refinery in Imo State currently in operations”, he said.
