The federal government is projecting an average of 250,000 barrels per day petroleum product refining capacity through the establishment of modular refineries.
A modular refinery is a simplified refinery requiring significantly less capital investment than traditional full-scale refinery facilities.
The Minister of State for Petroleum Resources, Timipre Sylva, who made this known at the inauguration of the 5,000 barrels-per-day Waltersmith Modular Refinery and the groundbreaking for a 45,000-bpd plant in Imo State, expressed its support to modular refiners in a bid to meet government’s target of becoming a net importer of petroleum products.
He stated: “The country is targeting 250,000 barrels per day refining through the Modular Refinery roadmap. (Vanguard)