IPMAN lauds FG for rehabilitation of Port Harcourt refinery



The Independent Marketers Association of Nigeria (IPMAN) has lauded the Federal for its effort to rehabilitate the Port Harcourt Refinery.
IPMAN’S president, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) in that having functional refineries was in the best interest of the nation.


NAN reports that the Nigerian National Corporation (NNPC) and an Italian company, Tecnimont SpA, had Tuesday signed an agreement for the rehabilitation of the 210,000BPD refinery at a sum of 1.5 billion dollars.
The rehabilitation project has a timeline of between 18 and 44 months under a three-phase arrangement.
Okoronkwo said: “We believe that rehabilitation of the PH refinery is a welcome development because it has been in a moribund state for time.

“So it is to rehabilitate it than selling it off as scrap even if it is to be sold.
“Having a functional refinery will Nigeria a lot. By the time we start refining locally, it will reduce freight cost of products.


“It will also boost employment creation because it will create direct and indirect jobs for Nigerians.”
He, however, urged the to ensure that the timeline for the of the project is followed. (NAN)