National Economy
Tuesday, September 16, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

Federal Govt Seeks US Support On Modular Refinery Tech Deployment

by Hannah Oni
3 years ago
in News
Reading Time: 2 mins read
Modular Refinery
Share on FacebookShare on TwitterShare on Telegram

The new minister of state for science, technology and innovation, Henry Ikechukwu Ikoh, has visited the United States consulate, commercial department in Lagos for a discussion on the immediate deployment of modular refinery technology in the oil and gas sector, with emphasis on a business-driven approach.

On his part the minister said, there is urgent need for immediate deployment of modular refineries in the nine Niger Delta States, starting with states that have the most conducive environment with reference to security and business interests.

He emphasised that such investments will improve the economic outlook of the country and enhance the welfare of the Niger Delta people, as well as create jobs for local artisans, which will help to curb operation of artisanal crude refineries, reduce health hazards and protect Nigeria’s environment.

He further said that a modular system is required at this time and would have to be demonstrated at pilot scale in different locations. He added that the initiative will be purely private sector driven to be facilitated by Rock Results Group.

You May Like

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

Nigeria, Others To Brainstorm On Sustainable Energy Goals

Ikoh said the federal government is wholly committed to supporting the immediate deployment of modular refinery systems to help reduce the challenges associated with artisanal refining and open new business relationship with American investors.

According to him, the initiative is designed to allow for both technology transfer and immediate business takeoff.

He added that the possibility of realising such a lofty target within the shortest time possible is high given the current need and high political will on the part of government.

Responding, the representatives of the US consulate commercial department applauded the minister’s business visit considering the current level of eagerness to get much done within the shortest time possible.

Senior commercial specialist of the US Consulate Commercial Department Ms Ngozi Nkwo, assured the minister that the US mission in Nigeria wholly supports the initiative and promises to match the speed of the government of Nigeria on the project of deploying modular refinery in the country to enhance business growth, human and environmental protection.

On his part, commercial specialist at US Consulate Commercial Department, Mr. Chamberlain Eke, added that, though funding has always hampered such initiatives, especially with reference to the commercial scale envisaged, however, the enthusiasm of the current administration will facilitate funds sourcing.

In this regard, the US consulate said, EXIM Bank of USA will support the investment as long as the Nigerian business counterparts can raise the required equity of 15 per cent in line with the financing policy of the bank.

The US consulate officials also promised to contact American companies in the modular refinery sector and set up the required meetings for the project takeoff.

They further expressed delight in the opportunities that the modular refinery project will bring to American companies that have already expressed strong interests in the sector and other sectors of the Nigerian economy.

ShareTweetShare
Previous Post

NIWA Begins Insurance Of Cargoes, Barges Over Incessant Boat Mishaps

Next Post

Revive Industries To Save Economy From Collapse, Experts Tell Federal Govt

ANOTHER GOOD READ

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure
News

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

2 days ago
Nigeria, Others To Brainstorm On Sustainable Energy Goals
News

Nigeria, Others To Brainstorm On Sustainable Energy Goals

2 days ago
Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office
News

Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office

2 days ago
Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations
News

Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations

2 days ago
Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria
News

Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria

2 days ago
Aviation Safety: NiMet Unveils Digital Flight Folder, Aeronautical Bulletin
News

Aviation Safety: NiMet Unveils Digital Flight Folder, Aeronautical Bulletin

2 days ago
Next Post
Buhari

Revive Industries To Save Economy From Collapse, Experts Tell Federal Govt

Most Recent

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

September 16, 2025
How Fintech Can Untie Puzzle At  Bottom Of The Pile

How Fintech Can Untie Puzzle At Bottom Of The Pile

September 15, 2025
16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

September 15, 2025
Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

September 15, 2025
Nigerian U-20 Captain Daniel Joins Slovenian Club

Nigerian U-20 Captain Daniel Joins Slovenian Club

September 15, 2025
Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

September 15, 2025
Safe Skies: Phone Switched Off Or Airplane Mode?

Safe Skies: Phone Switched Off Or Airplane Mode?

September 15, 2025
Articulated Vehicles And Increasing Fatalities: A Call To Action

Articulated Vehicles And Increasing Fatalities: A Call To Action

September 15, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy