Host Communities, Foreign Investors Plan 10 Refineries
Editor
Oil producing communities in the country, under the auspices of the Host Communities of Nigeria Producing Oil and Gas (HostCom), yesterday, disclosed that they have entered into an agreement with a number of foreign investors from Germany and the USA among others, to build 10 modular refineries in Nigeria.
Speaking at its national conference in Abuja, Mr. Mike Emuh, National Chairman, HostCom, said that funding for the 10 modular refineries would be provided solely by the foreign investors, while the refineries would be constructed in all oil-producing states.
He, however, blamed the delay in the commencement of the project on issues surrounding licensing and cost and sources of crude oil supply to the refineries. He said: “We are, therefore, calling on the Federal Government to grant our foreign partners licenses and all necessary cooperation for the smooth take off of these modular refineries that will be financed wholly by our foreign partners.”
