Chinese firm to invest N160bn in oil refinery in Niger

The Niger State Government’s plan to attract investors may be nearing reality following the decision by a Chinese company to invest over N160 billion in the construction of an oil refinery at Bida Basin in Baro town, Katcha Local Government Area of the state.

It will be recalled that the state government constituted a Hydrocarbon Committee in 2012 to look into the commercial viability of oil and gas deposits in the Basin and the possibility of going into its exploration.

Hence, the committee early in 2013 returned a positive report of the possibility of realising the dream of joining the league of oil producing states of the country.

Speaking at a press conference on last year’s activities of the Ministry of Mining and Mineral Resources, the Commissioner, Alhaji Abubakar Baba Jibreel, said that five foreign investors had shown interest among which is the Chinese company.

He explained that though the state is desirous of exploring the commodity, it had not entered into any Memorandum of Understanding with the Chinese firm.

Jibreel said: “We held back because we did not want the investor to be the sole owner of the refinery. Allowing that to happen will not be in the interest of the people of the state and the government.”

The commissioner also said President Goodluck Jonathan had approved the letter written to him by Governor Babangida Aliyu on the presence of oil and gas deposit in the state.

eGuerrilla: I see in this particular development proof of a vote winning project

Michael Sokoto:
NATHING of such broda

APC all d way unless Jona crosses over

sCun:
Typical APC mentality.

Ibrahim mr fish: gej didn't approve d project b4 when Niger state governor was with G5 governors.He only approve it as a bribe to the governor,dead to PDP.Playing politice with development.