The Nigerian government has announced a USD 500-million facility from the Export Import Bank of China through the Bank of Industry to build modular refineries and fund the Flare Gas Recovery Programme, local media reported Monday.

The facility will help to finance equipment and machinery purchases from China for modular refineries in Nigeria, Daily Trust reported.

“This agreement is set to create over 100,000 jobs in Nigeria’s oil and gas sector – a decisive move that will advance the federal government’s modular refineries and Flare Gas Recovery Programme,” Bank of Industry managing director Olukayode Pitan said at the signing ceremony.


The Nigerian government has been promoting modular refineries to increase the country’s downstream capacity and develop oil producing regions.
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