Expectations that private and modular refineries would help Nigeria achieve petrol self-sufficiency by 2019 may have been dashed.
This is because all the operating licences the Department of Petroleum Resources (DPR) granted to investors expired at the end of 2017.
With an anticipated capacity to process over 1.352 million barrels of oil per day (bpd), the country would have saved over N2.7 trillion in importation, had the refineries come on stream by 2019.
In the current private refineries’ status report obtained by The Guardian, 19 holders of the 25 licences given by the DPR in 2015 are yet to commence projects, while six others have moved from Licences to Establish (LTE) to Approvals to Construct (ATC) levels.
The Guardian, January 19, 2018
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