WATCH THE VIDEO HERE The Nigerian Content Development and Monitoring Board (NCDMB) has signed an agreement to acquire 20 per cent equity in a 100,000 barrels per day (bpd) refinery project. The refinery is being established by African Refinery Group Ltd, in partnership with the Nigerian National Petroleum Company (NNPC Ltd). The Executive Secretary of NCDMB, Engr. Felix Ogbe signed the agreement at the Board’s liaison office in Abuja, while the Managing Director, African Refinery Port Harcourt Limited, Tosin Adebajo signed on behalf of the company. The share purchase agreement will make NCDMB a key partner in the African Refinery Port Harcourt Limited (ARPHL), being co-located with Port Harcourt Refining Company Limited, operated by the NNPC Ltd, in Alesa Eleme, Rivers State. Ogbe remarked that the equity investment is the first to be sealed under his leadership.
NCDMB secures 20% wquity in 100kbpd refinery
