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


Babatunde (surname withheld) is the son of a popular professor and a federal university lecturer. Also he was trained as

OJB Jezreel is dead

Music producer Babatunde Okungbowa better known as OJB Jezreel is dead. OJB Jezreel died from chronic kidney disease in the


The federal government has announced that it will host a 2-day IDPs Stakeholders’ forum as part of its efforts to


Other Interesting Posts

Illegal oil export trial: Court rejects Total E&P's request to bar journalists
A Federal High Court in Lagos on Tuesday refused an application filed by Total E&P Nigeria Plc asking the court to bar journalists from cover...
How Don forged Institute's Documents- Witness tells court
A Special Fraud Unit (SFU) witness, Dr. Kenny Adenugba, on Tuesday told a Lagos Federal High Court, in Lagos, how a former Registrar and Chief Ex...
Court rules on Tompolo’s application December 12
Justice Olatoregun Ishola of a Federal High Court in Lagos has fixed December 12, 2016, to rule on the application filed by Chief Government Ekpe...
powered by RelatedPosts