Tuesday, October 19, 2021

Indonesia To Build Refinery In Nigeria

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The Head of Investor Relations of PTPP (Persero) Tbk, Mr. Adi Hartadi, partners to PT Intim Perkasa Nigeria Ltd, disclosed that Indonesia is set to build a refinery in Nigeria, in Abuja at a business meeting with Dr. Maikanti Baru who is the Group Managing Director of Nigerian National Petroleum Corporation (NNPC). He revealed that the refinery which will have a refining capacity for 10,000 barrels per day would be located in Akwa Ibom State.He further said that the Indonesian company would need the support of NNPC since a combined capacity of 445,000bpd by the country’s three refineries could not function optimally over the years due to lack of investment. Explaining, he said that given Nigeria’s estimated population by 2025 it would require more than 40 million litres of petrol, to satisfy above 50 percent of the country’s local demand. He then expressed optimism saying that “with this kind of investment coming steadily, Nigeria could serve as a regional hub of refined petroleum products for West Africa and beyond”.
Photo Credit: Getty

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