The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of modular refineries and the Flare Gas Recovery Programme in Nigeria. Speaking at the signing ceremony in Beijing, BOI’s Managing Director, Mr Olukayode Pitan, emphasised the job creation potential of the partnership saying, “I am delighted to begin the next chapter of a long-term trading relationship with China through CEXIM. “This agreement is set to create over 100,000 jobs in Nigeria’s Oil & Gas sector – a decisive move that will advance the Federal Government’s Modular Refineries and Flare Gas Recovery Programme,” he said. As part of the MoU between BOI and CEXIM, the facility will be utilized to finance the purchase of equipment and machinery from China by investors and project owners of modular refineries in Nigeria. The BOI […]