Minister of State for Petroleum, Timipre Sylva has given an assurance of the Port Harcourt Refinery being useful in 18 months.
Sylva mentioned this in an interview on Channels Tv, in response to controversy that trailed the approval of $1.5 billion for the rehabilitation of the Port Harcourt Refinery (an quantity which many had described as an excessive amount of for the venture).
The Minister who insisted that the rehabilitation train isn’t a waste of funds, added that there are plans to additionally repair the Warri Refinery and Kaduna Refinery.
“Port Harcourt Refinery will work, and positively inside the subsequent 18 months.
“There are plans to additionally repair the Warri Refinery and Kaduna Refinery after which we might get all these workers to work.”
Sylva debunked insinuations that the rehabilitation may have taken lower than N500m, whereas additionally itemizing how the venture shall be fuded.
“You see, Nigerians wish to bandy figures. I can inform you, that that can not be true. We’re speaking with the professionals.
“Let me inform you how this rehabilitation goes to be funded; it isn’t going to be all money owed, we’re not going to borrow all of the monies which are going into the rehabilitation (venture),” he added.
“Among the cash will come from NNPC’s internally generated income – from NPDC, a few of it would come from the Federal appropriation, and just a bit fraction will come from the African Export-Import Financial institution (Afreximbank).”