Govt Will Help Credible Markets To Own Refineries, Says DPR Director
AS pressure mounts on the Federal government to establish modern and functional refineries to save the country from incessant fuel price increase, it has said that modalities are being worked out to encourage credible Nigerians to own and run private refineries.
This was disclosed in Lagos during the week by the head of the Directorate of Petroleum Resources (DPR), Mr. Mark Ofurhie, while on an extended facility tour of the tank farm of OBAT Oil and Petroleum Limited.
Ofurhie stated that "the Federal Government is looking for very serious people that have the experience and wherewithal like the OBAT chairman, to set up functional refineries in Nigeria."
He explained that none of the 18 applicants that applied to set up refineries in Nigeria were deemed qualified to own such sensitive facility.
The DPR boss stated that with what he had personally seen and inspected at the OBAT Tank Farm, "we at the DPR will encourage you to come forward to establish your refinery. Interestingly, Mr. President has said that Nigeria must refine 50 per cent of her crude oil locally by year 2010. And we at the DPR are sure that people like Prince Akinruntan will be able to actualise Mr. President's dream."
He expressed delight that with the coming of OBAT, a lot of improvement in fuel delivery has been achieved.
In his speech earlier, Akinruntan, who is the Chairman of OBAT, said "We at OBAT have been looking forward to this day for long in order to take care of Nigerians. The facilities that we have here are to help the national economy, industries and government."
He disclosed his firm's capacity to load 400 to 500 petrol tankers a day, while declaring his happiness that Nigerians could achieve such a feat.
Akinruntan revealed that his company's dream was to build the first phase of a refinery, which would be able to refine 50,000 litres per day. "With what we have achieved here at OBAT, building a refinery will not be difficult for us," he stressed. He also stated that his company had over 27 depots now.
Mr. K. Oloketunyi, Mr. D.C. Ugorji, and nine other top officers of the agency accompanied the DPR director on the tour.
