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Port Harcourt refinery to become operational before end of 2022
The Nigerian government has promised that before the end of 2022, Port Harcourt refinery in Rivers State would become operational.
This was disclosed by Timipre Sylva, the Minister of State for Petroleum Resources at a press briefing in Abuja on Tuesday.
Although he stated that the activities at Port Harcourt refinery would be limited, Sylva noted that the production would go a long way to finally remove fuel subsidy.
Recall that in March 2021, the federal executive council (FEC) approved the sum of $1.5 billion for the rehabilitation exercise of Port Harcourt refinery.
The repair, to be executed by Tecnimont SPA, an Italian company, would be done in three phases of 18, 24 and 44 months.
READ ALSO: Dangote refinery to cut petroleum importation by 36% —Petroleum Producers
Sylva also reiterated that government had no plans to remove fuel subsidies and believes Dangote refineries also would be key.
On the legality of the continuing payment of subsidy, six months after the signing into law of the Petroleum Industry Act (PIA), Sylva revealed plans for amendment.
He noted that the federal government would write to the National Assembly seeking an amendment to allow subsidy payment for the next 18 months.
A section of the PIA requested that by June 2022, government stops fuel subsidy payments.
“I will not want to specifically mention the time of extension because that will be a product of a discussion with the national assembly because it is likely to involve an amendment of the PIA to extend the time for at least 18 months” he said.
The minister also reiterated government plans to convert one million cars to gas and create a similar volume of filling stations to avoid congestion.
“If you convert cars to gas, it is important you provide also corresponding filling station, if you build the filling stations that you don’t convert cars, then the filling stations will also be hanging so these have to go by so handing them and that is really what is ongoing now and I cannot show you that all this will come together very soon before the subsequent removal of fuel subsidy”
“Hopefully by end of this year cars will be converted, and more modular refinances will be built, so the plans are there,” he added
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