Buhari signs partnership with Saudi Aramco to help revive Nigerian refineries


President Muhammadu Buhari on Wednesday welcomed the dedication of Saudi vitality firm, Aramco, and Public Investment Fund (PIF) to discover areas of collaboration for investments in Nigeria, together with partnership with the NNPC to revive the nation’s refineries.

At a gathering 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 mentioned Nigeria had rather a lot to be taught from the experience and professionalism of one of many world’s main vitality firm.

Speaking on the necessity to enhance the effectivity of the oil and fuel trade in Nigeria, President Buhari mentioned Nigeria’s vitality firm would quickly embark on a diagnostic evaluation of refineries, pipelines, depots and different infrastructure throughout the nation to determine the extent of collaboration with the Aramco.

In an announcement by the Senior Special Assistant on media and publicity, Malam Garba Shehu, the President mentioned: ‘‘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 corporate’s place to advertise enterprise funding alternatives via know-how within the vitality 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 fuel sectors.

The President additionally used the event to reaffirm Nigeria’s solidarity with Saudi within the aftermath of latest assaults on Aramco oil services, praising the dominion’s restoration after the incident.

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