Buhari okays Saudi pact on refineries

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President Muhammadu Buhari on Wednesday welcomed the commitment of Saudi energy company, Aramco, and Public Investment Fund (PIF) to explore areas of collaboration for investments in Nigeria, including partnership with the NNPC to revive the nation’s refineries.
At a meeting with the Chairman of Aramco and Governor of PIF, Yasir Al-Rumayyan, on the margins of the Future Investment Initiative (FII) in Riyadh, the President said Nigeria had a lot to learn from the expertise and professionalism of one of the world’s leading energy company.
Speaking on the need to improve the efficiency of the oil and gas industry in Nigeria, President Buhari said Nigeria’s energy company would soon embark on a diagnostic assessment of refineries, pipelines, depots and other infrastructure across the country to ascertain the level of collaboration with the Aramco.
In a statement by the Senior Special Assistant on media and publicity, Malam Garba Shehu, the President said: ‘‘Nigerian officials are ready to collaborate with you. They will identify their priorities and invite you for a meeting in the country so that you can go round to inspect the refineries and other oil facilities.’’
Al-Rumayyan affirmed the company’s position to promote business investment opportunities through technology in the energy sector.
The President instructed the Minister of State, Petroleum Resources, Timipre Sylva, the Minister of Industry, Trade and Investment, Niyi Adebayo and the Group Managing Director (GMD), NNPC, Mele Kolo Kyari to work with the Saudis and expedite the modalities for investments and collaborations in Nigeria’s oil and gas sectors.
The President also used the occasion to reaffirm Nigeria’s solidarity with Saudi in the aftermath of recent attacks on Aramco oil facilities, praising the kingdom’s recovery after the incident.
Source: The Nation


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