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$1.5bn P/H refinery repair: Forum lauds Buhari, Sylva

 

Johnchuks Onuanyim, Abuja

South-South Emerging Leaders Forum (SELF) has expressed happiness over the approval of $1.5 billion by the Federal Executive Council (FEC) for the rehabilitation of the Port Harcourt refinery.
The Forum commended President Muhammadu Buhari and the Minister of State for Petroleum, Chief Timipre Sylva for the decision.
In a statement released to journalists on Thursday in Abuja, signed by its National Coordinator, Mr. Benjamin Kolowei, the forum said the move to fix the refinery will positively impact the economic activities in the South-South region.
The Minister of State for Petroleum, Timipre Sylva, who briefed reporters after the FEC meeting on Wednesday had said the rehabilitation will be done in three phases of 18, 24 and 44 months.
According to the Minister, the funding of the repairs will be from many components including the Nigerian National Petroleum Corporation (NNPC), Internally Generated Revenue (IGR), budgetary provisions and Afreximbank.
SELF, however, expressed confidence that apart from improving economic activities in the region, the FEC approval will also create massive direct and indirect employment for the people.

 

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