Lagos to Install Country's First New Refinery in 20 years!!!
Establishment of a new refinery at Lagos is a public private partnership project
. This project was initiated to resolve the problem of perennial shortages of by- products of natural resources at Nigeria, while Nigeria has abundance of natural resources but underutilized. The establishment of this project made many officials and business persons to take Lagos flights to take their part in this launching. Public sector could easily accomplish this project but the private sector was also involved just to enhance the utilization of the capacity of the private sector. If we look at the other aspect of the picture we will come to know that involvement of private sector results in more efficient delivery of services. This is the first new refinery launched in Nigeria in last 20 years. It gave birth to a number of new businesses and growth opportunities for the existing ones too. An increase in cheap flights to Lagos has been observed after the inception of this project especially among business travelers.
The idea of installing new refinery in the country was conceived some two years ago in 2008 in respect of the State's participation in the Refinery and Hydrocarbon Industrial Park as a co-investor when delegation comprising of Group Executive Director, Engineering and Technology Directorate of the NNPC, Mr Billy Agha, top officials of the Corporation and the Chinese firm took flights to Lagos and participated in discussion over this issue, and eventually they finalized this establishment. This idea was warmly welcomed by the people of the country that expresses the readiness of the State to work with the NNPC and the Chinese on the project. This project is consistent with the objective for setting up the Lekki Free Trade Zone.
After the inception of this idea many wise business persons considered to take cheap Lagos flights because they knew it very well that Lagos city with a population of 18million represents a very profitable market which will be beneficial to all the participants in the proposed refinery venture. It is not only the first refinery to be launched in last 20 years but is also the first that would be integrated with an Industrial Hydrocarbon Park designed to convert natural gas and refined petroleum products into hydrocarbon derivatives. Business persons and job seekers are taking flights to Lagos from UK and many other parts of the world in search of business and jobs related to this project as it is expected that the installation of new refinery would benefit from the 5000 job opportunities for construction workers and an estimated 2000 workers that would run the Industrial complex.
Lagos to Install Country's First New Refinery in 20 years!!!