Mission Incredible: Nigeria To Invest US$2.68 billion In Indonesian Refinery Deal

Nigeria is to sink a staggering US$2.68 billion in the construction of three oil refineries in faraway Indonesia, The Jakarta Post reported today. 

The newspaper was told by Panggah Susanto, a director of the Ministry of Industry in that country, that Nigeria had been looking for a partner to refine its crude oil, and both countries agreed [for that purpose] to build three refineries in Indonesia.

“Previously they wanted the refineries to be built in Nigeria,” Susanto said of the Nigerian counterparts. “However, as Indonesia is currently improving its downstream industry, Indonesia wanted the refineries to be built here instead.”

Apparently, they got their will.  According to the director, “State firm PT Pertamina will buy the crude oil from Nigeria and process it here.”

It is unclear why Nigeria has chosen to refine its crude abroad, and the matter appears to be shrouded in secrecy.  The Nigerian people have not been informed of the deal, or about how it will benefit them. 

The current Nigeria government is fraught with policy hiccups.  Only last month, the Nigerian president, after a meeting with Mr. Jai-Seong Lee, the president and chief executive officer of South Korea’s Hyundai Heavy, announced that the company, the world’s largest shipbuilder, would build a multi-billion shipyard in Bayelsa State that would create thousands of jobs. 

The following day, Hyundai Heavy denied any such arrangement.

Courtesy: Saharareporters.com


About naijainfoman

naijainfoman is a Nigerian, legal practitioner and social activist. He believes in the sanctity of the human life and holds that governments should live up to their duties and responsibilities. He also believes in fairness, equity and justice and that we all have the right to be heard irrespective of race and religious inclination. He loves decent, truthful, peaceful, knowledgeable and God conscious people and dislike liars, Oppression, Imperialism, Murderers, Racists, hypocrites, Zionist, Bush and Obama. He hopes to be an influential activist for world peace and security. To live and die in the path of Truth, Humanity, Justice, Peace and Equality and his end game is to die in the state of submissions to God Almighty and be resurrected as a Muslim… naijainfoman is IGHO HAKEEM OHWOJEHERI
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