‘Why Nigeria should switch over to modular refineries’

Kaduna Refinery

Kaduna Refinery

The establishment of modular refineries in the country would ensure availability of refined petroleum products at an affordable price and eliminate costs of importation by the government.

President, Techmodular Incorporated, Ms Carol Abelleira, who made this assertion yesterday in Lagos, at the unveiling of programmes for the promotion of modular refineries in the country, added that the move would also promote economic rehabilitation and re-urbanization of the respective oil refinery communities by re-investing a portion of the profits in social responsible projects and programmes.

Besides, Techmodular Incorporated, a U.S. project packaging and implementation management company, is collaborating with 3K Synergy Limited and GBHR Nigeria Limited, to organize a two- day seminar and market place exhibition targeted at promoting the development of modular crude oil refineries, solar power plants, gas plants.
Techmodular /Financialbridge Inc. USA, is expected to lead a team of U.S. financial and technical team of experts to Lagos Nigeria to make presentations and to have one on one consultation sessions with the key industry operators in their respective fields to help them jumpstart their projects by providing all the technical, financial and partnership assistance that they may require.

Speaking at the media conference yesterday in Lagos, Abelleira, stated that the seminar will also cover detailed processes and procedures needed to develop modular refineries, gas and solar power plant projects as the practical sustainable strategic infrastructural imperatives to be developed in Nigeria towards building her fuel and energy sufficiency and for putting a final stop to the long lingering scarcity of refined petroleum products and irregular power supply in the country.

Abelleira stated: “Our ultimate objective is to partner with our associated company Financialbridge, Inc. USA, the Nigerian National Petroleum Corporation (NNPC), the Niger Delta states governments as well as other Nigerian Government agencies and the private sector associations members to secure U.S. private equity funds and Export Import Bank (U.S. Ex-Im Bank financing to fund the development of modular crude oil refineries, gas and power projects in all the Niger Delta region and other states in Nigeria.

“This will help create unlimited supply and distribution of Petroleum Products for the Nigerian and African regional Market and to enough to support other viable initiatives of the federal government for a holistic economic growth of Nigeria.

“The private sector ownership of modular refinery plants in Nigeria will also enable the Federal Government/NNPC to optimize the economic value of the crude oil assets of Nigeria, which can only be achieved through refining crude oil within the country using modular refineries”.

She said that the presence would ensure availability of refined petroleum products in Nigeria at an affordable price to Nigerian citizens and eliminating the costs of importation of refined products by the government.

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