President Buhari has approved licences to 65 Nigerian Companies to construct modular refineries,which were selected from 285 applications that were screened.
Modular refineries are mini refinery with a capacity of 1,000 to 10,000 Bpd,a set up that can be assembled and separated easily to enhance performance and efficiency.
The decision was taken 10 days after the president assumed office in June, to approve these licences,which is solely targeted at increasing domestic refining capacity to meet local demand and reduce importation bills through subsidy.
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