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

UDUAGHAN WINS DOUBLE HONOURS

Delta State Governor, Dr. Emmanuel Uduaghan has emerged a double winner, he was named BusinessDay Newspaper Best Governor in the

How Olubadan’s daughter died in Lagos accident

Daughter of the Olubadan of Ibadan land, Oba Saliu Adetunji, Aje Ogungunniso I, Princess Mujidat Alagbada’s death in a road

Govt is exploiting private schools – Deputy Senate President

The Deputy President of the Senate, Ike Ekweremadu, has accused government of exploiting private schools. Read also: Atiku Abubakar says


x

Other Interesting Posts

Illegal oil export: Court accuses FG of unseriousness
A Federal high Court in Lagos on Monday accused the Federal Government of frustrating hearing of the suit it instituted against Chevron Nigeria L...
N3.8bn money laundering: Fani-Kayode's change of counsel stalls trial
Hearing in a criminal suit filed by the Economic and Financial Crimes Commission (EFCC) against former Minister of Aviation, Femi Fani-Kayode, ov...
Ex- Rep member, lawyer docked over alleged stealing
Former member of the House of Representative, Nze Chidi Duru and a lawyer, Smart Iheazor were on Monday arraigned before a Tinubu Chief Magistrat...
powered by RelatedPosts