Nigeria And China Sign $23bn Deal For Three Refineries - Politics - Nairaland
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| Nigeria And China Sign $23bn Deal For Three Refineries by Nobody: 9:07am On Apr 10, 2016 |
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 will stem 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. http://www.bbc.com/news/10116945 |
| Re: Nigeria And China Sign $23bn Deal For Three Refineries by Beeman1(m): 9:10am On Apr 10, 2016 |
Long live my president |
| Re: Nigeria And China Sign $23bn Deal For Three Refineries by rusher14: 9:21am On Apr 10, 2016 |
Signed in 2010. Never executed. 1 Like |
| Re: Nigeria And China Sign $23bn Deal For Three Refineries by Kyase(m): 9:30am On Apr 10, 2016 |
rusher14:This is Buhari, Mr integrity, love him or hate him, even his enemies know that this one must be implemented, believe me 1 Like |
| Re: Nigeria And China Sign $23bn Deal For Three Refineries by Mynd44(mod): 9:33am On Apr 10, 2016 |
| Re: Nigeria And China Sign $23bn Deal For Three Refineries by PIPPROF(m): 9:33am On Apr 10, 2016 |
Kyase:nonsense integrity |
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