Nigeria's state-run oil firm NNPC and China State Construction Engineering Corporation (CSCEC) have signed a $23bn (£16bn; 18bn euros) deal.
The two will jointly seek financing and credits from Chinese authorities and banks to build three refineries and a fuel complex in Nigeria.
The project would add 750,000 barrels per day of extra refining capacity.
NNPC hopes the construction of new refineries willstem the flood of imported refined products into Nigeria.
'Deepen relationships'
Nigeria is the world's 12th-largest oil producer and the eighth-largest oil exporter. But the country imports roughly 85% of its fuel
needs because of the disrepair and mismanagement of its four state-owned refineries. "We are about to deepen the existing technical and commercial relationships between China and Nigeria through the signing of a memorandum of understanding," said Shehu Ladan, head of NNPC .
The three refineries will be built in Bayelsa, Kogi and Lagos states, while a location has to be confirmed for the petrochemicals complex.
The Nigerian government has said that foreign
companies must invest in developing Nigeria's
infrastructure and economy first, before they can benefit from its oil and gas exports.
Source :www.bbc.com/news/10116945?SThisFB%3FSThisFB

This vision is for a future time. It describes the end, and it will be fulfilled. If it seems slow in coming, wait patiently, for it will surely take place. It will not be delayed.

Why is everyone digging up this old news?... Where is this confusion coming from?

cc: Mynd44

Good work, bubu...good work!

As for me i will wait till i see it happen.I have stop believing in fairy tale