FG gives conditions to license modular refineries

The Minister of State for Petroleum, Senator Heineken Lokpobiri said the federal government will give financial support to licensed private modular refinery owners with proven records.

Lokpobiri  who was accompanied by the Executive Secretary, NCDMB, Engr. Simbi Wabote and the MD of Bank of Industry, Olasupo Olusi during a facility visit to  Waltersmith Refinery, Ibigwe, Imo State on Tuesday said the biggest challenge modular refinery have was feed stuck and access to funding.

Lokpobiri assured that the federal government is addressing the problems.

The Executive Secretary of NCDMB, Engr. Simbi Wabote said the Waltersmith Modular Refinery.

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He said the refinery had produced almost 600 million litres of various petroleum products, saying that about 20 trucks leave the refinery on a daily basis.