Kachikwu, who commended the promoters of the $50million refinery, said
the Federal Government was ready to support any private sector-driven
venture.
Managing director of the company, Daminago Ogaji explained that: “The
refinery is 100% owned by the Niger Delta and would serve as a Federal
Government’s model for the entire area.
It is starting with a capacity of 5,000 barrels per day (BPD) and would be increased to 20, 000 barrels in its midterm until its target of 100,000 bpd is achieved.
“The model is different because we have brought in the community as co-partners who would be given 10 per cent of the company’s profit.”
On the issue of militancy, he explained that the local community was made a part owner to enable them work as a family.
“We also intend to train the local boys because a local content developed company would be set up to produce about 80 percent of the materials needed for the operations,” he said.
He explained that tank farms and pipelines are some of the things that would be produced locally, leaving about 30 per cent of the needed materials to be sourced from outside the state.
