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Hon. Kachikwu Works On Waiver Importation Project

Hon. Kachikwu Works On Waiver Importation Project 
The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, on Thursday dropped the long awaited news that the ministry would consider ways of securing import waivers for the implementation of the Project 100, which he has been anticipating. 
According to him, the government has already approved import duty waiver for importation of modular refineries equipments for refineries.

He however noted that the ministry may intervene with the application of the executive order when it becomes in need of money for the expenses. 

Although he said that it is the responsibility of the Nigerian Content Development Monitoring Board (NCDMB) to raise the fund, there is really nothing like the government paying for the project because the companies already have their financing structure in place as planned.

The minister, who spoke to reporters at the launching of project 100 by the NCDMB in Abuja, said the nature of government’s intervention makes it impossible to guess how much the project will cost.

He said:-
“I won’t put a number because I have not done an analysis but it is multibillion terms of amount of work required in the project. We are basically saying we have reached a point when we can take the leadership in the industry.”

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