Clarivo Oil and Fuel has introduced plans geared toward lowering Nigeria’s reliance on imported petroleum merchandise by 2035, following ongoing preparations to develop a home refinery.
The plan was disclosed throughout a board assembly chaired by the corporate’s Chairman, Chief Obidike Chukwuebuka, the place strategic selections on Clarivo’s long-term investments within the vitality sector had been reviewed.
Talking with journalists, Chief Obidike stated the proposed refinery is a key part of Clarivo Oil and Fuel’ technique to broaden native refining capability, improve vitality safety, and add worth to Nigeria’s crude oil assets.
He famous that the challenge aligns with nationwide targets to scale back gas importation, preserve overseas alternate, and create employment alternatives throughout the oil and gasoline worth chain.
Based on him, the corporate is dedicated to supporting Nigeria’s drive towards vitality independence, stressing that the refinery initiative is meant to contribute to sustainable financial progress by 2035.
Chief Obidike added that the proposed facility is predicted to course of crude oil regionally for home consumption, with potential for exports inside the West African sub-region. He additionally stated the challenge might stimulate progress in associated sectors equivalent to engineering, logistics, and petrochemical companies.
He additional disclosed that feasibility research and regulatory engagements are ongoing, reaffirming that the refinery challenge stays a central a part of Clarivo Oil and Fuel’ enlargement plans and its contribution to Nigeria’s industrial improvement.
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