02 October 2017, Sweetcrude, Lagos – The Federal Government will early next year select successful bidders from the list of 26 firms, which sent in bids for selection to refurbish Nigeria’s four state-owned refineries.
Minister of State for Petroleum Resources, Ibe Kachikwu, announced recently that 26 firms have shown interest in the plan to overhaul the nation’s oil refineries located in Warri, Kaduna and Port Harcourt.
Speaking at an oil conference in Cape Town, South Africa, Kachikwu said the project would require investment of $2 billion.
The minister said: “We are almost at a threshold of finalising the process of selection (of bid winners),” adding that the successful bidders could be announced by January or February next year.
He stated that the Dangote Refinery with capacity to process 650,000 barrels per day, bpd, of oil being built in Nigeria is due to come on stream by the end of 2019.
According to him, with the take off the Dangote plant, its output should be enough to meet needs.