unveiling the truth...
   

 




....Moves to employ 100,000 Nigerians

By Benjamin Umuteme

ABUJA---Nigeria’s oil production is set to receive a further boost as EPIC refinery and petrochemical has concluded plans to invest $30 billion US dollars in the building of 100,000 barrels per day refinery in Oporoma, Bayelsa State.

Giving details of their investment plans in a power point presentation to Nigeria’s minister of state for Trade and Investment Mr. Samuel Ortom in Abuja, Managing Director, EPIC refinery, Mr. Barago Wenke Jr. said EPIC is motivated by the huge growing demand for petroleum product and power supply within Nigeria and the West African sub-region.

The project would be a joint venture arrangement between EPIC Refinery and Petrochemical Industries Limited and Sino-Asia Energy Group, Beijing, China.

A breakdown of the project indicated that $10 billion US dollars will go into the construction of the refinery and logistics while $20 billion US dollars would be channelled to the upstream sector of the petroleum industry.

Wenke Jr. pointed out that Epic refinery when completed will provide over 100,000 jobs.

“The funds are there, right now, we have employed some persons in Nigeria. We have started creating jobs, we have over a 100 staff and within the next two weeks, work will commence on site, ”he added.

In his remark, Ortom assured them of government’s support through the provision of necessary incentives that would drive the growth of their investment.

He noted that the refinery when established will shore-up local production of petroleum products and put an end to importation.

Nigeria, the world’s seventh largest exporter of crude oil is yet to past the Petroleum Industry Bill (PIB) five years after it was submitted to the legislature.

This, analysts say has further slowed investment inflow into the oil and gas sector of Nigeria's economy

Comments   

 
0 #1 NDIANA-ABASI ENE 2013-02-17 17:07
This is a good project if it would be handled honestly. I they find job too.
Quote
 
 
0 #2 Chinenye 2013-06-20 06:19
? love dis,pls keep it up. Am looking for a job, ? studied public administrator
Quote
 
 
0 #3 Daniel Simon Ckla 2014-02-18 08:38
This is great. I am geologist seeking for a job and will like to work with u
Quote
 
 
0 #4 DOMOTIMI GODWIN NATH 2014-03-09 21:31
good one coming to bayelsans and will like to get a job ,i studied petroleum engineering from pti
Quote
 

Add comment


Security code
Refresh

Nigeria: Non-Oil Growth Has Not Mitigated Poverty And Inequality - IMF

By Benjamin Umuteme The International Monetary Fund (IMF) has maintained that despite strong non-oil growth in Nigeria, poverty and income inequality remain... Read More...
FG Approves N35.9bn Loan For Agric

...targets to create 120,000 jobs The Federal Executive Council (FEC) meeting presided over by President Goodluck Jonathan on Wednesday approved a loan... Read More...
Power Generation Hits 4,105MW – FG

The Federal Government on Wednesday announced that the country’s generated power has hit a record high of 4,105megawatts. According to the FG, the rise in... Read More...



Subscribe to Our Newsletter

Subscribe to our Newsletter and get the news as it breaks. Click here

Search

Latest Comments

  • Suspected Mentally Deranged Nigerian Sacks Abidjan Police Station
    bookmarked!!, I really like your site! My webpage - michael kors hamilton grid sort ...

    Read more...

     
  • God is Interested In Your Bodies, Methodist Bishop Tasks Xtians
    Hi, Neat post. There is an issue with your website in web explorer, would test this? IE still is the ...

    Read more...

     
  • Mark Anumah Foundation Provides Free Medical Treatment To Okene Indigenes
    Thankfulness to my father who informed me on the topic of this web site, this weblog is genuinely ...

    Read more...

Trending

 

Twitter Feed

Football Fixtures

UEFA Champions League
FIXTURES (GMT)

Wednesday 23 April 2014


Real Madrid    v    FC Bayern München
Santiago Bernabéu 18:45


Read More

Photo News