The federal government has promised to support waivers on import duty on machinery, equipment and components for the 5,000 barrels per day Ikwe-Onna modular refinery in Akwa Ibom state and other modular refinery projects.
The government said it would also facilitate access to the Nigerian Content Intervention (NCI) fund managed by the Bank of Industry (BOI) for the development of modular refineries in the country.
The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu made the pledge at a stakeholders and project kick-off meeting for the refinery in Uyo, Akwa Ibom state recently.
The pledge by the government came following the granting of Approval to Construct (ATC) license for the $60 million Ikwe-Onna refinery scheduled to be completed between 2019/2020.
According to a statement from the refinery investor, the minister who was represented by the Director of Oil Services in the ministry, Engr. Busari Kamaru, said government would facilitate crude supply agreements from producers; ownership-joint venture investments with the host communities and state government.
The Vice President, Prof. Yemi Osibanjo, who was represented at the meeting by his Senior Special Assistant on Niger Delta Affairs, Mr. Iyamu Edobor, said that having completed all the licensing processes and required approvals, everything was now set for the commencement of the actual construction of the Ikwe-Onna modular refinery.
The Chairman, Ikwe-Onna refinery, Engr. Bassey Rex regretted that despite being the highest producer of oil in the country Akwa Ibom state could not boast of any operational refinery.
He said the vision to establish modular refinery in the state was driven by interested stakeholders that were willing to invest in the project in the state.
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