Plans have been concluded by a Hong Kong oil producing firm, Blooming Faith Petroleum Ltd, to partner the Federal Government of Nigeria to build and operate a refinery with an installed capacity of 200,000 barrels per day, in Akwa Ibom State.
In a statement made available to newsmen, a senior management team of the organisation, which is currently in Nigeria to kick-start procedure for the project, confirmed a successful engagement with the Nigerian National Petroleum Corporation, NNPC.
Speaking on the development, Chairman of the company, Dr. Robert Yeung, explained that the company’s interest in building a refinery was influenced by the discovery that Nigeria, a major oil producing nation, relied on importation of refined products to attend to its domestic needs.
“We became interested for two basic reasons: first, as a business entity, we have identified a vacuum to be filled, because the government of Nigeria will not import what it can access locally.
“Secondly, our confidence in Nigeria as an investors’ destination of choice in Africa, we know that we can never get it wrong with a country of almost 200 million people.”