Lokpobiri stated this while speaking to newsmen shortly after a tour of WalterSmith Modular Refinery in Ibigwe, Imo State.
He said that to this end, the Federal Government will support anyone with proven record of success, who shows interest in investing in a modular refinery with funds.
Lokpobiri further said that the Federal Government is committed to ensuring that there is sufficient supply of petroleum products to satisfy the consumption needs of Nigerians, which explains why it is keen about the rehabilitation of the nation’s refineries across the country to make them functional.
The minister stated, “Based on that, the President had directed that I take charge of the programme to rehabilitate our state-owned refineries. That is why I have gone round the Port Harcourt, Warri and Kaduna refineries.
“But you know, the shortest way to addressing our energy problems is modular refineries. That is what I was told by the Nigerian Content Development Monitoring Board, NCDMB, who said that I need to visit the WalterSmith Refinery.
“That is why I am here today to see things for myself. I am sure anybody who enters here will be very proud of what we are seeing here.”
The minister, however, said that the biggest challenges that modular refineries have are “feedstock and access to funding,” which he said the Federal Government was addressing.
He added, “That is why the Bank of Industry, BoI, is here, and that is why the NCDMB is also here to take this collaboration to the next level.
