FEC approves $1.48bn for repairs of Kaduna, Warri refineries

The Federal Executive Council has approved the award of contracts for the rehabilitation of Warri and Kaduna refineries to Messrs Saipem SPA and Saipem Contracting Limited at the combined the sum of $1.484bn.

Minister of State, Petroleum Resources, Timipre Sylva, stated this on Wednesday, while briefing State House reporters on the outcome of the FEC meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

According to him, the Warri refinery rehabilitation got $897,678,800, while Kaduna Refinery would cost $586,902,256.

Sylva said the completion of the rehabilitation of Warri and Kaduna refineries would be in three phases.

“The first phase will be completed within 21 months. In 23 months, phase two will be completed and in 33 months, while full rehabilitation will be completed,” he added.

The minister said on the Port Harcourt refinery, “Work has already commenced. Already, the first 15% of the contract sum has been paid to the contractor and the contractor was fully mobilised to the site.

FEC had on March 17 this year approved the sum of $1.5bn for the rehabilitation of the largest refining company in the country, Port Harcourt Refinery, to an Italian company, Tecnimont spa with three funding components from Nigerian National Petroleum Corporation Internally Generated Revenue (IGR), budgetary allocations provisions and Afreximbank.

Sylva also disclosed that FEC approved the acquisition of 20% minority stakes by the NNPC in Dangote Petroleum and Petrochemical Refinery in the sum of $2.76 billion.

The Minister of State, Education, Chukwuemeka Nwajiuba said the council approved the convention to regularise the recognition of certificates and diplomats all across Africa.

Nwajiuba said FEC also approved the award of contract for the building of two blocks of social science complexes at Adamawa State University in Mubi for a total sum of N1,103,000,000.

Minister of Power, Sale Mamman, said the FEC okayed the construction of two by 60 MVA 132 33 substation at Gagarawa, Jigawa State in favour of Messrs Power Control and Appliances Limited in the sum of N154,212,396.05.

He said, “The second one is the award of the contract for the engineering, procurement, and construction of 2 by 30 MVA 132 33 substation at Ibino Ibom, Akwa Ibom State in favour of Messrs YEMEC West Africa Limited in the sum of US$6.2m offshore plus N1.8 billion onshore.”