The Federal Government, in a bid to boost the refining of crude oil in the country, on Monday signed an agreement with an American and Nigerian joint venture group, Vulcan Petroleum Resources Limited and Petroleum Refining and Strategic Reserve Limited, for the construction of six modular refineries.
The six refineries, which are estimated to gulp $4.5bn (N697.5bn), will have a combined capacity of refining 180,000 barrels of oil per day.
Two of the refineries are expected to be completed within the next 12 months, while the others will be completed within the short to medium-term.
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