FG Looks To Saudi Arabia To Revamp Ailing Refinery
Nigeria has three refineries that barely function. And this is after billions of naira had been spent to keep them alive and make sure they work.
Now, the Federal Government is banking on a collaboration with Saudi Arabia to make the refineries in Warri, Port Harcourt and Kaduna work.
Minister of State for Petroleum Resources, Ibe Kachikwu, said on Wednesday that Nigeria was currently tapping from the vast experience of Saudi Arabia, adding that both countries would take strong business decisions on the matter in due course.
Kachikwu spoke at the Abuja headquarters of the Federal Ministry of Petroleum Resources while playing host to the Minister of Oil and Energy for Saudi Arabia, Khalid Al Falih.
Commenting on some of the discussions which the Federal Government had with the delegation from Saudi Arabia with respect to refineries during a press conference at the ministry, Kachikwu said they looked at what the experience had been for the two countries.
He said: “As you know, the refineries have been very close to my heart. So, I did bring up the issues of experiences that we’ve had so far, and he shared his own experiences in terms of successes that they’ve had.
“We’ve got an understanding to come look deeper into how they’ve done their own trajectory to get to where they are today and what experiences we can pick from there.
“No formal things agreed yet, but there is the willingness to collaborate and learn from one another. These are usually very strong business decisions and at the appropriate time, we will nosedive into the details of that.”
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