Firm plans 200,000bpd refinery in Akwa Ibom

06 July 2016,  Lagos – Blooming Faith Petroleum Limited, a subsidiary of Blooming Faith Global Holdings Limited, has concluded plans to partner with the Nigerian government to build and operate a 200, 000 barrels per day capacity refinery in the coastal state of Akwa Ibom.

*Modular oil refinery.

*Modular oil refinery.

Senior management team of the organisation who are currently in Nigeria to kick-start the procedure for the project, said that successful meetings were held with the leadership of the Nigerian National Petroleum Corporation (NNPC), with a view to forming a strategic relationship for the sole purpose of producing refined products to shore up domestic consumption in Nigeria.

Chairman of the Company, Dr. Robert Yeung, stated that the company’s interest in building a refinery was as a result of the discovery that Nigeria, a major oil-producing nation in the world relies on importation of refined products to attend to its domestic needs.

“We became immediately interested for two basic reasons, firstly as a business entity we have identified the fact that there is a vacuum to be filled, hence there is market for our produce when we get started. This is so because the government of Nigeria will not import what it can access locally as being produced by refineries in country.

“And secondly because of our confidence in Nigeria as an investors destination of choice in Africa as we know that with a population of almost 200 million people we can never get it wrong with the country and its people”.

  • The Guardian
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