TONWEI REFINERY | Molecular Science
Export Oriented Oil & Gas Refinery

President Olusegun Oba-sanjo at the weekend laid the foundation stone of the country's first privately-owned refinery, at Agge in Bayelsa. Obasanjo, who was represented by Mr Funsho Kupolokun, his special assistant on petroleum, said that the establishment of private refineries in the country had the capacity to inject massive funds into the economy. The president said that the setting up of the Tonwei refinery would end product scarcity in the immediate community and its environs, just as it would also facilitate the springing up of ancilliary industries. According to him, "when Tonwei refinery becomes operational and even during the construction stage, it would generate hundreds of employment opportunities for Nigerians, including people in the local community." Obasanjo said that in opting for the liberalisation of the oil industry, his administration intended to rid the sector of monopoly in the supply and distribution chains. He said that the aim was to encourage private individuals and corporate bodies with the wherewithal and the technical capability to invest in the petroleum sector, so that with time the problems associated with the industry would be solved. Against this backdrop, Obasanjo said that all the barriers hindering the entry of new investors into the oil sector were to be removed. The president advised the promoters of the proposed refinery to spare no efforts in ensuring that it comes on stream on schedule. Deputy Senate President, Ibrahim Mantu, who was the chairman on the occasion, described the project as a dividend of democracy, which according to him will transform the landscape of Agge. Mantu called on the people to see the project as theirs, as it is owned by their son. The Chairman of the Board of Directors of the refinery, Timi George Tongubor, said that the project would cost 1.5 billion dollars. Bayelsa Governor, Dr Goodluck Jonathan, who represented Gov. Diepreye Alamieyeseigha, said that the project would create employment opportunities for the people.

 

Reference: http://allafrica.com/stories/200210220530.html.

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