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FG: Rehabilitation of Port Harcourt refinery will not add to Nation’s debt


The Federal Government says the rehabilitation of the Port Harcourt refinery in Rivers State will not significantly add to the nation’s burden.

 

The Minister of State for Petroleum Resources, TIMIPRE SYLVA, stated that the government does not intend to borrow all the funds to rehabilitate the refinery which he said would be functional in 18 months.

 

SYLVA disclosed that the Nigerian Petroleum Development Company Limited and others would contribute the money to be used for the project.

 

The minister gave an assurance that there was no need for Nigerians to worry about how the loan to be secured would be repaid.

 

He explained that going by the way the project was structured; the operations of the refinery would pay back the funds to be used.

 

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