The Nigerian government has disclosed that 26 firms have shown interest in the plan to overhaul the nation’s oil refineries. The Minister of State for Petroleum Resources, Ibe Kachikwu, made this known at an oil conference in Cape Town on Tuesday. Mr. Kachikwu said the 26 firms had indicated their interest in the project that will require investment of $2 billion. He explained further that Nigeria was close to finalising the process for the overhaul of the three existing refineries, adding 450,000 bpd as part of the effort by Africa’s biggest economy to reduce its reliance on imports. “We are almost at a threshold of finalising the process of selection,” he said, adding that it could announce its selection by January or February. Similarly, the minister said that the Dangote Refinery with capacity to process 650,000 barrels per day (bpd) of oil being built in Nigeria is due to […]