‎Govt’s lack of policy direction stalls IPMAN’s N495bn refineries project

17 February 2016, Sweetcrude, Lagos – The Independent Petroleum Marketers Association of Nigeria, IPMAN, would have to wait a little longer ‎to commence the construction of its two proposed N495 billion ($3 billion) refineries.

*Port Harcourt refinery.

*Port Harcourt refinery.

SweetcrudeReports gathered that alleged lack of policy direction on the part of the Federal Government has led the association to put the projects on hold.

According to the association, the government is yet to come out with a clear-cut directives and policies that would guide the prosecution of the projects.
IPMAN’s National Assistant Secretary, Alhaji Ahmed Fashola, said‎ despite this challenge, ‎there is no going back on the 200,000 barrels per day capacity refineries at Itobe, Kogi State, and Abbe in Bayelsa‎.
“We bought over 1,000 hectares of land in Kogi and Bayelsa, the states have given approval, but what we are waiting for is federal government directive and policies.
“Once federal government’s approval is given, we are ready to move to the site and commence construction.
“We want a clear directive from government on this,’’ he said.
About the Author