Eko Modular Refinery Gets N360m Grant
The United States of America Trade and Development Agency (USTDA) has approved a grant of $1 million (N360 million) for the detailed engineering design of 20,000 barrel per day (bpd) modular refinery in Lagos.
The Head, Media Communications, Integrated Oil and Gas Limited, Mr. Enyeribe Anyanwu who disclosed this in a statement said that the USA Ambassador to Nigeria, Mr. Stuart Symington confirmed the development during the official signing of the agreement in Lagos.
Symington commended the initiative of Eko petrochemical and refining company’s management just as he expressed the hope that the proposed 200, 000 barrel per day (bpd) production refinery would attract more investments to the country and develop host communities.
His words: ‘‘The grant was meant for detail engineering design and development of the proposed refinery in Tomaro Industrial Park in Lagos. I feel honoured to be part of the success story. I also promised to support the projects to actualisation”.
Symington applauded the Chairman of Integrated Oil and Gas Limited, Captain Emmanuel Iheanacho for his commitment to the project. He noted that Iheaneacho’s investment in the refinery project was coming at a time when the country needed it most.
He also praised the Federal Government for believing in the power of the individual citizens and entrepreneurs to undertake laudable projects for the nation’s development.
‘‘He is doing it at a time with a government that believes Nigeria can do what can be done anywhere in the world,’’ the ambassador added.
Iheaneacho who was the Minister of Interior during the administration of former President Goodluck Jonathan said the Eko Petrochem and Refining Company would complement efforts of the Federal Government in providing lasting solution to the problems of importation of refined petroleum products into the country.
He revealed that the USA Government, acting through the USTDA, has accelerated the process of the planned economic investments through the industrial development grant of $1 million, which it had seen fit to bestow to us.