Tag: Refinery

Akwa-Ibom: Community accuses BUA of land-grabbing, vows to halt refinery  

Aminu Imam
Akwa Ibom vs BUA

The dispute over the ownership of the land between two communities in Akwa-Ibom State is threatening the BUA refinery and petrochemical complex with the Ekid people insisting that the Stubbs Creeks Forest, where the project is located is their territory and not of their Ibeno neighbours. Promoted by AbdulSamad Rabiu, a philanthropist and industrialist, the BUA refinery and petrochemical project is located off the Atlantic Coast in the Stubbs Creek Forest, an area being disputed by the people of Ibeno, Esit Eket and Eket local government areas of Akwa-Ibom State.…

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$35m Bayelsa Refinery’s Probe: Lagos oil magnate, Akindele shuns EFCC invitation, travels abroad

Aminu Imam
Bayelsa Refinery's Probe

The Economic and Financial Crimes Commission (EFCC) investigation of the alleged misappropriation of the $35 million (about N56bn) meant for the Atlantic International Refinery and Petrochemical Limited (AIRPL), in Bayelsa State, may have been stalled, owing to the failure of one of the principal suspect in the alleged scam, Dr. Akindele Akintoye, to honour the anti-corruption agency’s invitation. According to sources close to the EFCC, rather than honour the invitation, Akindele sent a lawyer and traveled abroad. In May, this year, a former member of the House of Representatives, Israel…

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Dangote Refinery: FEC approves acquisition of 20% minority stakes

Abdul-Azeez Ahmed Kadir

The Federal Executive Council (FEC) has approved the acquisition of 20 per cent minority stakes by the Nigerian National Petroleum Corporation (NNPC) in the Dangote Petroleum and Petro-Chemical Refinery. Timipre Sylva, Minister of State for Petroleum Resources, briefed State House correspondents after the virtual FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa. Sylva said the acquisition was in the sum of 2.76 billion dollars. He said that council also approved contracts for the rehabilitation of Warri and Kaduna refineries. The FEC, today, approved…

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FG approves $1.5bn for rehabilitation of Port-Harcourt refinery

Aminu Imam

The Federal Government has approved the sum of $1.5bn for the rehabilitation of the Port-Harcourt Refinery.  The Minister of State for Petroleum Resources, Timipre Sylva, stated this while briefing newsmen at the end of the Federal Executive Council, (FEC), meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja, yesterday.  The minister said that the rehabilitation, which would be in three phases, will commence immediately and to be handled by an Italian firm, Tecnimont S.P.A. According to him, the first phase would be completed in 18 months, the…

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Buhari to commission new refinery in Imo State this week

Aminu Imam

President Muhammadu Buhari is expected to this week commission a new petroleum refinery located at Ibigwe, in Imo State. According to a post on the Presidency’s verified Twitters handle, the refinery, which was put together by Walter Smith Limited, is partly owned by the Federal Government following investment by the Nigerian Content Development and Monitoring Board (NCDMB). According to the company, the refinery project is divided into two phases: The Phase-1 is the delivery of 5,000 BPD Modular capacity refinery that is strategically located near the existing flow station and…

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