37 companies want to build refineries – Alh. Lai Mohammed

37 companies want to build refineries – Alh. Lai Mohammed

The recent near deregulation of the oil sector is already attracting companies, who want to build oil refineries, said Minister of Information and Culture, Alh. Lai Mohammed.

Alh. Mohammed disclosed this on Thursday in Abuja at a meeting he held with national and state executives of the ruling party, All Progressives Congress on the recent fuel hike price.

Explaining the reason behind government’s decision to increase petrol price, the information and culture minister revealed that the move had been yielding fruits.

Lai Mohammed defends self on loan scandal

“This price regime is going to encourage more investments in refineries and in the downstream sector.

“If you notice three or four days ago, 37 companies were jostling to invest in refineries in Nigeria just because we opened up the sector.
“Again, this price regime will lead to creation of more jobs because when people invest in the downstream sector, when they invest in refining there’ll be more jobs and will also save existing jobs.

“We can see a minimum of 200,000 new jobs being created and save existing 400,000 jobs. Those are the benefits of this new price regime,’’ Alh. Mohammed said.

Related Articles

Why looted money are being abandoned – Lai Mohammed

Minister of Information and Culture, Alhaji Lai Mohammed, has attributed the recent recovery of looted funds tucked away in odd


A 22-year-old Nigerian, Wale Oginni residing in the US last Saturday, drowned in a river where he had gone to


One hundred and twenty beggars and destitute have been convicted in Lagos just as 1,708 also were sent packing from


Related Posts

Court orders DSS to release Ifeanyi Ubah within 48hrs
The Federal High Court in Lagos on Thursday ordered the Department of State Services (DSS) to charge Capital Oil and Gas Ltd Managing Director, D...
Hon. Faleke hints at trouble between FG and Late Prince Abubakar Audu's family
Hon. James Faleke, the running mate of Late Prince Abubakar Audu, during Kogi State Governorship election in 2015, hinted that there is no love l...
Nnamdi Kanu’s lawyer banned from practising law
Lawyer Ugwuonye, one of the lawyers in the legal team of IPOB leader, Nnamdi Kanu, has been barred from practising law in Nigeria. Read also: ...
powered by RelatedPosts