The Department of Petroleum Resources (DPR) has called on businessmen to invest in the oil and gas industry instead of indulging in illegal refineries.
Director/Chief Executive Officer (CEO) of DPR, Sarki Auwalu, made the call at the weekend, when he visited the Niger Delta Petroleum Resources (NDPR) located in Ogbele community in Ahoada East Local Government Area of Rivers State.
Auwalu, who was satisfied with the operations going on at the facility, said that there was need for businessmen to invest their wealth in the oil and gas industry to grow the nation’s economy.
The DPR boss disclosed that the country has seven private refineries and the national production capacity is a collection of the seven private refineries and government refinery.
He noted that the local content base at the NDPR facility has shown that the nation has a strong economic hub if properly harnessed.
Auwalu said: “If they have the capacity of producing, refunding and marketing of petroleum products, this facility owned and managed by Niger Delta Petroleum Resources has confirmed that our local content base is a strong economic hub if properly harnessed.
“Currently, the capacity is 11,000 barrels per day and it has the tendency to increase. If any company can produce this capacity, then, the entire national supply will be secured.
“Locally, in the country, we have about seven private refineries, this facility produces 11,000 barrels; we have one with 10,000 barrel capacity set for commissioning; there is another one with 5,000 in operation; we also have one of 650,000 barrel yet to be commissioned too. There is another 200,000 barrels private refinery with over 20 processed licences.
“So, our national production capacity is a collection of these private production and contribution from the government refinery.
“The private sector should invest in this initiative because our observation today confirmed that this refinery is a masterpiece that has increased production of crude and other essentials towards increased product circulation starting from 1,000 barrels to 11,000 barrels.
“I urge them to start small and grow gradually just like what we have seen today in Niger Delta Petroleum Resources with practically less than one per cent foreign input. Indeed, enormous employment and capacity would be harnessed locally.
“DPR is a business enablers and opportunity provider in the oil and gas sector. And, we also ensure that the business is sustained. That is why we are calling on Nigerians to come and invest in the oil and gas sector.”
