The approval of $1.5 billion by the Federal Executive Council (FEC) for the rehabilitation of the Port Harcourt refinery would create more jobs and boost the nation’s economy, a South-South Emerging Leaders Forum (SELF) has said.
In a statement on Thursday in Abuja, the National Coordinator of the Forum, Barrister Benjamin Kolowei, commended President Muhammadu Buhari and the Minister of State for Petroleum, Chief Timipre Sylva for the development.
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The Minister of State for Petroleum, Timipre Sylva, had briefed newsmen after the FEC meeting on Wednesday saying the rehabilitation would be done in three phases of 18, 24 and 44 months.
The forum said: “Our forum received the news to fix Port Harcourt refinery with great joy.
“The move shows the commitment of the current administration to tackle the challenges facing our oil sector head-on.
“We believe that if the refinery starts operating at its capacity, it will improve a lot of economic activities in the South-South region, especially and the country at large will benefit from the project.
“Specifically, there will be employment not only for the people of the region but Nigerians generally.
“We are happy that the administration has taken a bold step not only to fix the refinery but the operations and maintenance, which are the major issues are considered in the approval.”
