Crude Oil  Refiners Association Of Nigeria Has Appealed To The CBN.

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The Central Bank of Nigeria (CBN) urged to establish a crude refinery intervention fund; in order to promote efficient business operations in the nation.

Additionally, they urged the Nigerian National Petroleum Company (NNPC) Limited to take into account; investing in or lending money to modular refineries in order to supply reformer and other necessary equipment; in order to ensure enough production of gasoline based on established offtake conditions.

The Association encouraged the NNPC, NMDPRA, and the NUPRC to collaborate with licensed modular refineries; to create a viable business plan that would provide consistent feedstock.

CORAN also stated that NMDPRA’s renewal fee for modular refinery license guidelines be revisited; and possibly reduced by way of 50 per cent waiver.

Punch.

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