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Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery - Business - Nairaland

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Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by olimeh13(m): 5:09pm On Jul 03, 2016
Following Nigeria’s quest and intense desire for direct foreign investment especially in oil and gas infrastructure development, Blooming Faith Petroleum Ltd, a subsidiary of Blooming Faith Global Holdings Ltd has concluded plans to partner with the Nigerian government to build and operate a 200, 000 barrels per day capacity, refinery in the coastal state of Akwa Ibom.

Senior management team of the organization who are currently in Nigeria to kick-start the procedure for the project confirmed in a chat with newsmen in Abuja that successful meetings were held with the leadership of the Nigerian National Petroleum Corporation, NNPC, with a view to forming a strategic relationship for the sole purpose of producing refined products to shore up domestic consumption in Nigeria.

Speaking on the development, chairman of the company, Dr. Robert Yeung stated that the company’s interest in building a refinery was fired up by the discovery that Nigeria, a major oil producing nation in the world relies on importation of refined products to attend to its domestic needs.

“We became immediately interested for two basic reasons, firstly as a business entity we have identified the fact that there is a vacuum to be filled, hence there is market for our produce when we get started. This is so because the government of Nigeria will not import what it can access locally as being produced by refineries in-country.

“And secondly because of our confidence in Nigeria as an investors destination of choice in Africa as we know that with a population of almost 200 million people we can never get it wrong with the country and its people.
“We have no interest in exporting refined products as our basic objective is to produce refined petroleum products for the Nigerian market, discussions are currently on-going with the NNPC and the Department of Petroleum Resources and we hope at the end we will get all necessary approvals as we are ready to commence immediately with one hundred percent funding capability”.

Also speaking on the issue Mr. John Erigwe, the company’s International Operations Director stated that the company has the financial capability and technical expertise to see the project through.
According to him the company is deeply interested and highly committed to investing in Nigeria’s economy and it is for this reason we sought the audience of the leadership of the NNPC under the Minister of ststae for Petroleum resources Dr. Ibe Kachikwu to meet and present our ideas and proposals to the corporation.

“We are fully interested in doing business in Nigeria and we don’t require any road-show to put our funds in the Nigerian economy as we have done our feasibility studies and risk analysis to conclude that Nigeria inspite of bureaucratic bottle necks is still an investor’s choice destination.

“Our refinery if approved and completed would be second in size and output capacity in Nigeria second only to the ongoing Dangote refinery which we gathered would commence operations in 2019.
“Nigeria surely needs these types of investments to boost local production of refined products as it is unheard- of to have a particular commodity in commercial quantity and be unable to maximize its usage for the benefit of its people, and we as investors have seen considerable seriousness for direct foreign investment from the current administration and that is a major part of our motivation,” he said.

The company hopes to site its refinery in Akwa-Ibom state, and also announced its desire to ensure that the refinery is built to a world-class standard upon completion, one that would be a reference point in the refining business in Africa immediately it kicks off.
Highlighting the issues further Mr. Yemie Adeoye, producer Energie Platform and CEO of D’ Alphaxristi Ltd, consultants to the investors stated that it is pertinent that the Government eases the pathway to investments as a way of encouraging investors to commit funds to projects.

“This is one of those investments that will have direct impact on the ordinary Nigerian people and the government should give such project immense priority. Investors must be encouraged with incentives and access to government support when required.
“For instance while the government is traveling around the world to woo investors, Blooming Faith international of Hong Kong came down to Nigeria to kick-start the investment process for their organization in Nigeria.
“In my humble opinion these types of investors who have shown this level of seriousness should be treated with high level seriousness, granted concessions where necessary and requested and most importantly to such businessmen is the ease of investment process.
“This project, between construction and completion would generate thousands of job opportunities for Nigerians both directly and indirectly and in a country where the unemployment rate is on the high, this is not an opportunity the federal government can afford to treat with levity” he enthused.
Blooming Faith International is a Hong Kong based hydra-headed organization with investments and operations cutting through Oil, gas, power, renewable energy, finance, agriculture, healthcare services and drugs manufacturing.

It would be recalled that Nigeria’s Minister of State for Petroleum, Dr. Ibe Kachikwu was in China a few days ago to create investment awareness for the Nigerian economy.

The very successful road show is bringing into the Nigerian economy about $100 billion for oil and gas infrastructure.

Source:- https://www.today.ng/business/146834/hong-kong-oil-firm-set-establish-nigerias-second-largest-refinery

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Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by ladyF(f): 5:13pm On Jul 03, 2016
Talk is cheap. Let them come and start and post pishure. We are tired of all the talk and no work! angry

It's [size=15pt]LadyF[/size] again grin grin grin

FTC finally!!! Who missed me at this spot? grin I want to dedicate this to my crush Tolutweety, even though he doesn't feel the same way cry cry cry Happy birthday dear... kiss kiss kiss

62 Likes 5 Shares

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Wizzyblack3(m): 5:15pm On Jul 03, 2016
So, no indigenous group or company can come up with the idea of establishing a refinary apart from DANGOTE. It has always being a foreign firm..

19 Likes 2 Shares

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Wizzyblack3(m): 5:16pm On Jul 03, 2016
ladyF:
grin
Chai, i don't know what to tell you. Well, happy sunday.
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by jmichlins(m): 5:17pm On Jul 03, 2016
I see good things happening in nigeria if only we choose to persever. But looking at how volatile the ND area is, i will advice them to sight it in enugu or anambra.

8 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by rozayx5(m): 5:18pm On Jul 03, 2016
nice one. we akwa ibomites are ready for devt cool

lalasticlala

11 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by ladyF(f): 5:23pm On Jul 03, 2016
Wizzyblack3:

Chai, i don't know what to tell you. Well, happy sunday.
lol happy sunday to you too dear kiss

1 Like

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by eyeview: 5:29pm On Jul 03, 2016
I hope we still get to hear from them henceforth.
Many have come with the phrase 'set to' and that will be the end

3 Likes 1 Share

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by makdcash(m): 6:32pm On Jul 03, 2016
Goo one from general buhari

1 Like

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by saintkeppy(m): 7:30pm On Jul 03, 2016
What are they waiting for? They should swing into action immediately. No time for bo~bo talk.

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Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by opalu: 9:00pm On Jul 03, 2016
Ok
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Zico5(m): 9:00pm On Jul 03, 2016
This is a good development if and only if militants will not threaten to blow it up. The reason why dangote decided to build the refinery in lagos is fear of uncertainty. Things will work better if we decide to work together as a body to curtail evil acts in our vicinity. God bless Nigeria

16 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Anabel(f): 9:01pm On Jul 03, 2016
This name no be like Hong Kong name. I dey suspect one 9ja politician on this matter. And if it's a 9ja politician, we should be expecting production at 10kegs per day

22 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by laurel03: 9:02pm On Jul 03, 2016
Niger delta avengers and milliltants go blow the refinery and bokoharam for north na another problem...
South west best region to invest for now

4 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Pavore9: 9:04pm On Jul 03, 2016
Until they start.
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by oloworulz(m): 9:04pm On Jul 03, 2016
I feel like cutting off Jonathan's head. he messed up big time

5 Likes 1 Share

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by mmsen: 9:04pm On Jul 03, 2016
Wizzyblack3:
So, no indigenous group or company can come up with the idea of establishing a refinary apart from DANGOTE. It has always being a foreign firm..

No indigenous group or company (besides Dangote) has access to the financing needed to pay all the bribes to get such an operation up and running.

3 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by TheNewIbadan: 9:04pm On Jul 03, 2016
Lmao upon all the pipeline bombing. Biafean terrorists, e kaasan o.

4 Likes 1 Share

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by fr3do(m): 9:04pm On Jul 03, 2016
Good development for Akwa Ibom!

oya blooming faith, build the refinery sharp sharp.
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by shamecurls(m): 9:05pm On Jul 03, 2016
Niger Delta Avengers need to start blowing-up all installations in Akwa-Ibow.


The refinery should be built in the West or North as these will buttress there grievances towards the Nigerian state and Buhari as a person.


NDA needs to start bombing ASAP

grin grin grin grin


#WhoIsDoingWho

21 Likes 1 Share

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by mightyhaze: 9:05pm On Jul 03, 2016
jmichlins:
I see good things happening in nigeria if only we choose to persever. But looking at how volatile the ND area is, i will advice them to sight it in enugu or anambra.
wots wrong in sighting it in akwa ibom?

1 Like

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by idesylvester(m): 9:05pm On Jul 03, 2016
Another job opening for the rich men children!!!

The poor can as well apply with a cleaning company so he/she can earn 25k or less per month

Good idea bt wickedness will follow as much as it can take

3 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by TheNewIbadan: 9:06pm On Jul 03, 2016
jmichlins:
I see good things happening in nigeria if only we choose to persever. But looking at how volatile the ND area is, i will advice them to sight it in enugu or anambra.

Enugu where Fulani herdsmen are dominating?
Anambra the Buafran terrorists headquarter?
Better situated in Lagos or Ogun.

13 Likes 2 Shares

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Nobody: 9:06pm On Jul 03, 2016
I would prefer this refinery is located in Ogun or Lagos again.

I hope the company will not rue their decision to invest when their plants get attacked by militants or the expatriates are being kidnapped in the name of agitation.

The SS is just too volatile for massive investment, most of the indigene would end up selling their jobs to Ibos and Yorubas even Seriake Dickson confirmed it.

13 Likes 1 Share

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Leoswaggs(m): 9:06pm On Jul 03, 2016
Everybody is just concentrating on oil..what about tomato and bread?we go chop oil ni

5 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by idesylvester(m): 9:07pm On Jul 03, 2016
Another job opening for the rich men children!!!

The poor can as well apply with a cleaning company so he/she can earn 25k or less per month

Good idea bt wickedness will follow as much as it can take
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by mmsen: 9:08pm On Jul 03, 2016
Leoswaggs:
Everybody is just concentrating on oil..what about tomato and bread?we go chop oil ni

Remember when Buhari said that he would diversity the economy...

1 Like

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by modelmike7(m): 9:08pm On Jul 03, 2016
God bless my President.
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Nobody: 9:10pm On Jul 03, 2016
When the price is N145
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Nobody: 9:10pm On Jul 03, 2016
When the price is N145 per litre
Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by jmichlins(m): 9:10pm On Jul 03, 2016
TheNewIbadan:

Enugu where Fulani herdsmen are dominating? Anambra the Buafran terrorists headquarter? Better situated in Lagos or Ogun.
come carry am go lagos or ogun na

4 Likes

Re: Blooming Faith Petroleum To Build Nigeria’s Second Largest Refinery by Ikwerreboy(m): 9:11pm On Jul 03, 2016
God bless Niger delta. United We Stand...

4 Likes

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