FEDERAL GOVERNMENT OF NIGERIA HAS APPROVED THE SUM OF S1.5 DOLLARS FOR THE REHABILITATION OF PORT HARCOURT REFINERY

The Federal Government has approved the sum of one point five billion Dollars for the rehabilitation of Port Harcourt Refinery.

The Minister of State for Petroleum Resources, Timipre Sylva made this known to State House Correspondents at the end of the Federal Executive Council, FEC meeting at the Presidential Villa, Abuja.

Sylva said the Ministry of Petroleum Resources had presented a proposal to the Council presided over by President Muhammadu Buhari to rehabilitate the refinery.

The Minister announced that the project would commence in three phases pointing out that the first phase is to be completed in 18 months which will take the refinery to a production of ninety percent of its capacity.

Sylva said that the second phase is to be completed in 24 months while the final stage will be completed in 44 months.