FG, EPIC Oil to create 100,000 jobs through new refinery

The Federal Government and Epic Refinery and Petrochemical Industries have signed a Memorandum of Understanding (MoU) to establish a refinery that could create 100,000 new jobs.

Samuel Ortom, the Minister of State for Trade and Investment, signed on behalf of the Federal Government while Barango Wenke signed for Epic Refinery.

Mr. Wenke, the Managing Director of the company, said the firm would inject 7.5 million dollars into the project.

According to Wenke, the plant will refine 100,000 barrel of oil per day and will be located at Oporoma in Bayelsa State.

The managing director said the project would be executed in conjunction with the company’s technical partners, Sino Asia Energy Group Company Ltd (SAE).

“The impact of this project can never be over emphasised with an anticipated creation of over 100,000 jobs and more than 180 petrol stations across the nation.

“With electricity generation of over 500 megawatts and their multiplier effects on the economy, no one is in doubt of the enormous benefits of this project to the country and Africa as a whole,” he said.

He said the Federal Ministry of Trade and Investment had assisted the group to establish the new company in Nigeria.

The managing director gave the assurance that the project would be completed within 24 months.

“Our partners are determined, focused and ready for its early completion,” he said.

On his part, the minister commended the group for the project, adding that refineries and petrochemical firms are crucial to the industrial development of the country.

He said the administration is determined to develop industries in areas where the country has comparative advantage.

Mr. Ortom assured the group of the government’s support, adding that “there are a number of incentives lined up for investors in oil and gas sector”.

The minister expressed optimism that the new company would not only create jobs but also alleviate poverty among Nigerians and Africans in general.

 

 

 

 


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  • Xman

    If this type of development has been happening under Jonathan no one will be criticising him as we are doing today. He is building this in Bayelsa fine, he shd find other projects that would equally create thousands of jobs for nigerians in other geopolitical zones. Start repairing all the roads especially Sagamu-Benin expressway, and other federal roads, privatize all other non working refineries if that would make them work. He shd try write in name in Gold so that when we have all gone, he would be remembered for good. I am sometimes sometimes wondering if the blacks are not under a spell, I have lived in the UK, US and Canada, i often wonder if our leaders do not visit these places and see how things work there. Nobody is asking them not to embezzle (cos it is part of our natinal psyche) but do what will make life easy for the masses too, such as affordable housing, pipe-borne water, stable electricity, abundant jobs to reduce unemployment, good roads, good healthcare system, standard education at affordable cost etc. We are rich, stop pauperizing us. I am not in Nigeria, my kids were born in western countries and are citizens of the country, but that does not mean they are not Nigerians nor they won’t come back home, let them meet Nigeria that cld compete with any countries in the world in terms of everything – amenities, education, healthcare, jobs, stable electricity, etc. Jonathan, all these are not impossible to achieve, we’d all hail u, and fight those that want to score cheap political goal by criticising u.