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Nigeria to Partner With Private Sector to Establish Modular Refinery in Niger Delta

The Niger Delta Ministry has made public that it plans to work with the private sector to build a modular refinery in the Niger Delta region.

The announcement was made through a statement issued at the end of the 5th session of the National Council of the Niger Delta (NCND), which took place on Monday, 12 September.

The board decided during the meeting that the ministry and the nine states in the Niger Delta region would create a platform to facilitate the organized private sector to set up a modular refinery modeled on the President’s Artisanal Gold Mining Initiative.

Refinery

The Presidential Artisanal Gold Mining Development Initiative (PAGMI) is a comprehensive artisanal and artisanal gold mining development program launched in 2019 to promote the formalization and integration of artisanal gold mining activities into the legal, economic and institutional framework of the Nigeria.

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Recall that in June 2020 Nigeria first produced artisanal gold processed and refined to London Bullion Market Association (LBMA) standards required for the use of Central Die gold as a reserve instrument Bank of Nigeria, which signaled an opening for the central bank to buy mines, gold processed and refined under the PAGMI for use as part of Nigeria’s foreign reserves.

The statement also indicated the council’s determination that the region’s nine states prioritize investment and support for agriculture to promote dry-season agriculture through irrigation, modern farming methods and access to farmland to address threats to food security.

Nigeria to Partner With Private Sector to Establish Modular Refinery in Niger Delta

According to the statement, the council also decided that the ministry and other relevant stakeholders would work together and develop a security framework for participatory incident reporting to strengthen rural-urban security in the Niger Delta region.

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