The Federal Government said on Wednesday that it envisaged production at a huge oil refinery being built in Nigeria by Africa’s richest man to start as scheduled around 2020.
Minister of Information and Culture, Alhaji Lai Muhammed, who said this, maintained that the 650,000 barrel per day (bpd) refinery should start production by 2020.
Billionaire Aliko Dangote secured more than $4.5 billion in debt financing for the project which has a price tag of up to $14 billion.
“When one looks at the money which has been raised from private funds, banks, it can’t afford to miss the deadline and it’s working (round) the clock to ensure that the refinery becomes operational in 2020 or thereabouts,” Mohammed said.
Asked whether his government might consider privatising part of Nigeria’s state oil firm NNPC, Mohammed said such a step was “not a priority”.
Atiku Abubakar, a former vice president and the main opposition candidate for the February 2019 presidential election, had said he would privatise parts of the state oil company if he was elected head of state.
