See more as another refinery secures license to begin operation, unveils plans

• The NMDPRA has finally granted Edo Refinery and Petrochemical Company Limited its final operational license
• The licence now allows the edo refinery the freedom to commence full-scale operations and petrol refining
• The Edo Refinery and Petro Chemical Company (ERPC) is a 6000bpd modular refinery located in Ologbo, Edo state

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted operational approval to the Edo Refinery and Petrochemical Company Limited, located in Ologbo, Ikpoba-Okha local government area of Edo State.

Edo refinery has been cleared to begin full scale operation Photo credit: Bloomberg/contributor
Source: Getty Images

Issuance of an operational licence is the final stage of approval from the regulatory authority, implying that the plant can now fully operate as a refinery.

Edo refinery gets full approval

During a ceremony on Tuesday, Farouk Ahmed, chief executive officer (CEO) of NMDPRA, handed the certificate to AIPCC Energy Limited, the parent company of the Edo refinery.

Ahmed handed over the operational licence to Segun Okeni, the refinery’s head of technical operations.

Speaking during the handover, Farouk commended the company for achieving the feat and enjoined the firm to do more.

Responding on behalf of AIPCC Energy, Okeni expressed gratitude for the support from NMDPRA and outlined the company's commitment to contributing to Nigeria's petroleum refinery and gas processing sector.

Okeni also highlighted that AIPCC Energy, the parent company, is actively pursuing three other projects, with one expected to be completed within the next year.

Speaking on operational readiness, Okeni said:

“It starts from licence to establish, licence to construct, approval to introduce hydrocarbon, pre-commissioning and commissioning, operate the refinery for some time to ensure it can do so and finally the licence to operate LTO,."

He also addressed concerns regarding crude oil supply, revealing ongoing negotiations with an indigenous oil company to secure a steady supply for optimal production capacity.

With the operational license secured, Edo Refinery now joins the ranks of Dangote Refinery as an operational refinery in Nigeria.

Dangote gets govt approval to refine 300,000 barrels of crude daily

Legit.ng earlier reported that the federal government has permitted Dangote refinery to begin processing 300,000 crude.

This was confirmed by Aliko Dangote while speaking in an interview in the Kingdom of Saudi Arabia.

The refinery, which took nearly seven years to build, is said to be the world's largest single-train refinery.

Source: Legit.ng