• About us
  • Contact us
  • Home
  • Privacy Policy
Saturday, December 9, 2023
New Citizen
No Result
View All Result
  • Login
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us
No Result
View All Result
New Citizen
No Result
View All Result
Home Business & Economy

Nigeria targeting 1.4mbpd domestic refining capacity in 5 years – NCDMB boss

SOLOMON ASOWATA by SOLOMON ASOWATA
2 years ago
in Business & Economy
0
Simbi Wabote, Executive Secretary, Nigeria Content Development and Monitoring Board

Simbi Wabote, Executive Secretary, Nigeria Content Development and Monitoring Board

Mr Simbi Wabote, Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), says Nigeria is targeting an increase in its domestic refining capacity to 1.4 million barrels per day within the next five years.

Wabote made this known while delivering a keynote address titled: “Competitive Landscape and Sustainable Development of In-Country Value Addition” at the 2022 Nigeria International Energy Summit, on Wednesday, in Abuja.

READ ALSO

Nigerian Navy arrests vessel engaged in crude oil theft 

Mbah inaugurates 15 Rice, cashew centers APPEALS Projects in Enugu

He said: “President Muhammadu Buhari rolled out the Refining Roadmap which has four areas of focus.

“Rehabilitation of existing four national refineries, co-location of new refineries, construction of greenfield refineries and construction of modular refineries.

“Combined refining capacities of more than 1.4 million barrels per day is expected from these focus areas within the next five years.

“About 400,000bpd is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and Kaduna using target performance of not less than 90 per cent of name plate capacity.

“The mechanically complete Dangote Refinery in Lagos and the BUA Refinery in Akwa Ibom States are expected to deliver refining capacity of 650,000bpd and 200,000bpd respectively.”

According to him, in the aspect of modular refineries, NCDMB is serving as a catalyst to enhance realisation of the refining roadmap.

He said the board’s partnership with Waltersmith resulted in the delivery of 5,000bpd modular refinery in Imo State.”

Next in view is the 2,500bpd Duport Modular Refinery located in Edo State due for commissioning by Quarter Two this year.

“Others under construction are the 2,000bpd Atlantic Refinery and the 12,000bpd Azikel Hydro-skimming Refinery both in Bayelsa State.

“As we get closer to the realisation of this scenario, it enables us to see oil as a resource rather than a commodity for trading.

“It means value addition to this resource for the production of other items and consumables.

“A barrel of oil utilised as a resource generates multiple products that are utilised in transportation, construction, aviation, agriculture, and others,” he said. (NAN)

Share this:

  • Tweet
  • Print
  • Telegram
  • WhatsApp

Copyright © 2022 | New Citizen Nigeria

Tags: Atlantic RefineryAzikel Hydro-skimming RefineryBUA RefineryDangote RefineryDuport Modular Refinerymodular refineriesNCDMBNigeria International Energy SummitNigerian Content Development and Monitoring BoardNNPCPresident Muhammadu Buharirefineriesrefining capacityRefining RoadmapSimbi WaboteWaltersmith

Related Posts

Business & Economy

Nigerian Navy arrests vessel engaged in crude oil theft 

December 8, 2023
Mbah inaugurates 15 Rice, cashew centers APPEALS Projects in Enugu
Business & Economy

Mbah inaugurates 15 Rice, cashew centers APPEALS Projects in Enugu

December 8, 2023
Cardoso approves CBN’s reviewed service charter
Business & Economy

Cardoso approves CBN’s reviewed service charter

December 7, 2023
Business & Economy

Nigeria signs bilateral air services agreement with Kuwait, Iran

December 6, 2023 - Updated on December 7, 2023
Business & Economy

Expert urges CBN to ease BVN registration

December 5, 2023
Business & Economy

NBS boss, Makinde harp on collaboration for reliable data

December 5, 2023 - Updated on December 6, 2023
Next Post
Sen. Chris Ngige

ASUU strike will soon be truncated — Ngige

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

No Content Available

EDITOR'S PICK

Farmer seeks FG, insurance companies’ support on cover for farms

April 18, 2023 - Updated on April 19, 2023
Babagana Zulum

Zulum appoints SA media, others

June 20, 2023 - Updated on June 21, 2023
Malam Tukur Mamu (m) with the five released victims

Abuja-Kaduna train kidnap: 5 more victims freed

August 2, 2022

APC to flag off presidential campaign rally in Jos

November 4, 2022 - Updated on November 5, 2022

About

NEW CITIZEN is a Nigerian online newspaper that reports or comments on the burning issues of the moment. Based in Abuja, it is managed by some of the best hands in Nigerian journalism, bringing together decades of active journalism.

Follow us

Recent Posts

  • Nigerian Navy arrests vessel engaged in crude oil theft 
  • Mbah inaugurates 15 Rice, cashew centers APPEALS Projects in Enugu
  • Police arrest 15 suspected terrorists in Imo
  • Crude Oil Theft: Navy nabs oil vessel with 17 crew

Trending

  • The house Ajao built
    The house Ajao built
  • The story of The Young Shall Grow Motors
    The story of The Young Shall Grow Motors
  • UNICEF seeks Radda’s assent on reviewed social protection policy document
    UNICEF seeks Radda’s assent on reviewed social protection policy document
  • Dangote Cement firm restores electricity to 10 Ogun communities
    Dangote Cement firm restores electricity to 10 Ogun communities
  • 250 athletes, 70 veterans to participate in CDS Half Marathon – DHQ
    250 athletes, 70 veterans to participate in CDS Half Marathon – DHQ

Quick Links

  • Home
  • Contact Us
  • About us
  • Privacy Policy
  • Home
  • Contact Us
  • About us
  • Privacy Policy

Copyright © 2022 | New Citizen Nigeria.

No Result
View All Result
  • Home
  • Nation
  • Politics
  • Business & Economy
  • Health
  • Education
  • Sport
  • Arts & Life
  • Culture & Entertainment
  • World
  • Perspectives
  • About us

Copyright © 2022 | New Citizen Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In