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Falling crude price: African oil producers meet in Abuja

 …Buhari backs local refining capacity enhancement

From Dennis Mernyi, Abuja

PRESIDENT Muhammadu Buhari has challenged African oil producing nations to develop and build domestic refineries to be able to add value to their product globally.

The President who gave the charge Monday at the opening of the 6th African Petroleum Congress and Exhibition (CAPE VI) holding in Abuja, Nigeria, noted that if Africa must substantially achieve value addition in the exploitation of its natural resources, APPA must recognise that the development of domestic refining capacity in oil and gas is critical to sustainable economic growth.

Buhari, who was represented by Vice President Yemi Osibanjo challenged African  Ministers of Energy to further explore cooperation mechanisms to expand regional refining capacities in an efficient and cost-effective manner.

“If Africa must substantially achieve value addition in the exploitation of its natural resources, APPA must recognise that the development of domestic refining capacity in oil and gas is critical to sustainable economic growth,” he stated.

He said Nigeria would be ready to provide manpower support development for the indigenous technology to build refineries in the region.

“Let me assure that Nigeria is ever ready to provide support in manpower development through the Federal University of Petroleum Resources,  Effurun, and the Petroleum Training Institute (PTI), Warri.

The 6th African Petroleum Congress and Exhibition (CAPE VI) is coming a day to the 33rd Ordinary Session of the Council of Ministers of African Petroleum Producers Association (APPA) opening in Abuja on Tuesday.

The APPA was inaugurated as a regional economic association in January 1987 and it has grown from the initial eight member countries to eighteen, namely Ghana, Cameroon, Algeria, Mauritania, Gabon, Cote D’Ivoire, Equatorial Guinea, Congo DR, Congo Brazzaville, Chad, Benin, Niger, Libya, Egypt, Sudan, Angola, South Africa and Nigeria. Nigeria has been a member of APPA since inception and is currently its  President.

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