Independent Petroleum Marketer Association of Nigeria plans to spend 3 billion US dollars to build o
Independent Petroleum Marketer Association of Nigeria plans to spend 3 billion US dollars to build oil refineries According to the Nigerian "Leader Newspaper" which was reported on January 31, Independent Petroleum Marketer Association of Nigerian(IPMAN), said in an interview on Wednesday that the association acquired more than 1,000 hectares of land in July 2014 in the ITOBE region of Nicosia and Bayearsa of the ABBE region respectively . And now it is planning to invest three billion US dollars in the construction of oil refineries
in both places, after the completion the production will reach 200,000 barrels per day. Officials said that due to the struggle between the leadership of the association, the project that was supposed to start two years ago was forcibly postponed until now. The association's leadership has started to discuss with foreign investors and technology partners when the project is officially launched. In the meantime, officials said the government should encourage investors to set up daily refineries which production is between 30,000 and 35,000 barrels a day in order to solve the problem of dependence on refined oil imports as soon as possible.