American oil firm, Barker Hughes, has expressed interest in investing in refineries in the country, as the federal government intensifies effort to end petroleum products importation.

Nigeria, a major crude oil producer, imports all its petroleum products, which has put enormous pressure on its currency in the foreign exchange market.

But speaking during a meeting with the Minister for State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, on the sidelines of the 28th United Nations Climate Change Conference (COP28), Mr. Lorenzo Simonelli, Chairman, President/CEO of Baker Hughes, expressed keen interest in sustaining and enhancing their investment in Nigeria’s oil and gas industry, including the readiness to invest in refineries.

A statement by the media aide to the minister, Nneamaka Okafor, said yesterday’s meeting marked a significant milestone in the effort of the government to attract investment into the oil and gas industry.

Simonelli conveyed Baker Hughes’ commitment to contribute to the energy transformation agenda of the Renewed Hope administration, led by President Bola Ahmed Tinubu.

He emphasized the company’s readiness to collaborate with the Federal Government in advancing sustainable energy practices, aligning with the goals of COP28.

Simonelli said: “Nigeria is a blessed nation with vast potentials and great opportunities in diverse sectors. As a partner with the federal government over the years, we are inspired to direct investment in the refinery domain of the oil and gas.

”Therefore, whatever we can do to support to get started, I am willing to do that, even now.”

In his response, Senator Lokpobiri commended the global giant for its longstanding partnership with Nigeria in the energy sector.

He highlighted the company’s valuable contributions over the years and expressed optimism about deepening the collaboration through increased investment in the nation’s oil and gas industry.

Senator Lokpobiri assured the Baker Hughes delegation of the federal government’s commitment to creating an enabling environment for investments in the refinery sector.

He affirmed that adequate measures would be put in place to facilitate the seamless actualization of Baker Hughes’ investment plans, aligning with the overall vision of the Renewed Hope administration.

“I am very happy that you have joined other companies in identifying the great opportunities and government’s favourable policies in our oil and gas sector and with the advent of the PIA, we now have a workable framework that guarantees conducive environment for investment,” he stated.

https://www.vanguardngr.com/2023/12/us-firm-barker-hughes-set-to-build-oil-refinery-in-nigeria/

Nlfpmod

We need govt refinery

Awesome!! God bless them so that they can realise this business objective.

The naysayers, unpatriotic elements, criminal defamation and cyberbullies will neither see this nor benefit from it.

We appreciate everyone and every organisation that contributed so far to the progress of this decision. We need more of this kind of long term infrastructure investments in Nigeria. Please bring the investment to Lagos and the neighbouring Yoruba South West Nigeria states please.

This is the best time to invest in Lagos and the neighbouring Yoruba South West Nigeria states for great returns on your investment and the best investor friendly experience in Africa.

God bless Nigeria for ever! Check my signature for free stuffs!

Islie:



https://www.vanguardngr.com/2023/12/us-firm-barker-hughes-set-to-build-oil-refinery-in-nigeria/

Nlfpmod

Another funnel into politicians pockets. Deal to sell Nigeria like the Malabo coming soon

Ttipsy:
We need govt refinery

No we don’t. We need govt to provide an enabling environment for investors and remain regulators, period! Competition is all we need in that sector.

Good news for Nigeria. This will bring about an healthy competition.

Nice one, US is know for their security awareness, let's see where this refinery will seat!

raskymonojendor:
Good news for Nigeria. This will bring about an healthy competition.

You Sabi the gist, the monopoly in the game should be eradicated at the earliest

For real? Wot is happening in dangote refinery?

This will take about 20 years before they complete the project.... and beside , why US firm , why not naija firm .... we have billionaires enough in this country... abeg this is monday morning make them no start with bad news ...

We know that people that will fight tooth and nail to block this good development.
Their business does not survive when it’s not a monopoly.
Watch and see.

"Set to"?
Let us pray this is not another Ajuri Ngelieliè tales.

Great

Just when Nigeria decides to refine its oil locally...they still pursue our oil enter our country...Hope they will not import workers, and export their 70% of their product to keep the economy wounded

Ok o. May it yield good result

Ok

Great.

I hope this comes to fruition

Nice

Nice

Just like how Siemen wanted to build electricity plants 8 years ago. And how Nigeria wants to start currency swap with China. We rate these guys too high. No reasonable company will want to invest in an unquestionable democracy where there are no rule of law and court orders are not obeyed by the government.

What about Dangot refinery?

This message came from the Nigerian government and cannot be trusted. Someone should alert me when Baker Hughes has completed the refinery.

Another propaganda for APC e-bots and e-rats to mast.urbate on.

So s firm in America can build a refinery but a whole Nigeria as a country can't build or rebuild old ones. Shame