Nigeria's state-run oil firm NNPC and China
State Construction Engineering Corporation
(CSCEC) have signed a $23bn (£16bn; 18bn
euros) deal.
The two will jointly seek financing and
credits from Chinese authorities and banks
to build three refineries and a fuel complex
in Nigeria.
The project would add 750,000 barrels per
day of extra refining capacity.
NNPC hopes the construction of new
refineries will stem the flood of imported
refined products into Nigeria.
'Deepen relationships'
Nigeria is the world's 12th-largest oil
producer and the eighth-largest oil exporter.
But the country imports roughly 85% of its
fuel needs because of the disrepair and
mismanagement of its four state-owned
refineries.
"We are about to deepen the existing
technical and commercial relationships
between China and Nigeria through the
signing of a memorandum of
understanding," said Shehu Ladan, head of
NNPC.
The three refineries will be built in Bayelsa,
Kogi and Lagos states, while a location has
to be confirmed for the petrochemicals
complex.
The Nigerian government has said that
foreign companies must invest in developing
Nigeria's infrastructure and economy first,
before they can benefit from its oil and gas
exports.


http://www.bbc.com/news/10116945?SThisFB%3FSThisFB%3FSThisFB

k

Good one, let the development begins.

....develop our economy first before benefiting from exporting our oil n gas. That's great and sensible.

OLD NEWS!!!

cc: Mynd44

charly4tex:
....develop our economy first before benefiting from exporting our oil n gas.
That's great and sensible.

see Arabic sense



If u dnt knw wot that means, it means backward sense!!!!


Lol...

No disrespect to Arabic language but like Arabic, ur sense is coming from the back side of reality.

So, how does one developed the country again?

Are the refineries going to be in China?

This is the change WE VOTED for. A lot of ppl have still not realised that PMB is looking for a lasting solution and not a temporary one that some cabal will sabotage again . If China does build a Refinery with the latest technology all our cries will turn to laughter.

God Bless Nigerians
God Bless PMB