The Federal Government has entered into a Memorandum of Understanding (MoU) with Nigeria’s largest indigenous energy group, Oando Plc to manage the Port Harcourt Refinery under a repair, operate and maintain (ROM) arrangement.
Chief executive officer, Oando Plc, Wale Tinubu at a presentation on the underlying facts of the group’s operations at the Nigerian Stock Exchange (NSE) yesterday in Lagos, said the group has received approval of the government to oversee the Port Harcourt Refinery.
“We also got approval from the President to repair, operate and maintain the Port-Harcourt refinery together with our partner Agip. We plan to increase the refinery capacity from 30 per cent to a 100 per cent, subsequently to 120 per cent,” Tinubu said.
