Economy
Chinedu Onyeizu has commended the Federal Government for signing a government backed partnership with Russia to revamp the nation’s refinery.
Onyeizu gave the commendation in an interview with News Agency of Nigeria (NAN) in Abuja on Sunday.
The Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari, at the Russia-African summit said the corporation has signed a Memorandum of Understanding for the Russian firms and the state company to rehabilitate Nigeria’s four refineries.
He also stated that gas infrastructure development was part of the discussion with the Russian investors.
Onyeizu said that collaborating with the Saudi’s to push the country’s gas resources to other parts of the country would be significantly transformational.
“Aside job creation for the teeming youths of the country which implementation of the agreements will yield, it will also enhance efficiency of the oil and gas sector, strengthen the nation’s GDP, and encourage diversification of Nigeria’s economy.
“The effect of this singular move goes beyond achieving the administrations liquid energy independence agenda.
“It will help eliminate negative climate change externalities associated with burning charcoal or using wood as cooking fuel.
“Our mothers in remote villages of Sokoto, Maiduguri, Ebonyi or Osun will have access to affordable LPG.
“The AKK gas pipeline project, an integral part of the Nigerian gas master plan, will hugely benefit commercial and industrial electricity consumers that fall within the project corridor,” he said.
He noted that Russia as a global giant in the oil sector had the capacity and expertise to turn around the fortunes of the sector in record time.
He said that a tap into their expertise could provide insight on how to maximise the by-products of crude in producing active pharmaceutical ingredients, fertilizers, and plastics that are in high demand in the country.
He described the partnership as symbiotic for both countries and suggested that Russia expertise be leveraged to make affordable gas accessible to millions of homes in Nigeria.
He advised that Russia expertise should also be deployed in curtailing oil linked pollution in the country.
News Agency of Nigeria (NAN) reports that Onyeizu was a senatorial aspirant on the platform of All Progressives Congress in the last general election in Abia state. (NAN)
– Nov. 3, 2019 @ 16:19 GMT |
Tags: Refinery: Expert commends FG on Saudi Russia deal
