Nigeria and Namibia are currently working with a view to constructing a petroleum products’ refinery that will be jointly owned by the two countries.
The decision was contained in a communiqué issued in Windhoek, Namibia, at the end of the visit, which was at the order of President Hifikepunye Pohamba. This was one of the major decisions reached during President Goodluck Jonathan’s recent two-day state visit to Namibia.
Capital markets operators and financial analysts have urged the Federal Government to consider indigenous firms in the sale of oil assets to enhance the nation’s capital market and reduce loss of billions of dollars by the federal government due to non-listing of oil and gas majors on the Nigerian Stock Exchange.
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, disclosed on Thursday at the headquarters of the NBET in Abuja preceding to a meeting with the board members that the Federal Government has secured additional N54.5bn for the Nigerian Bulk Electricity Trading Plc in a bid to improve the organisation’s power purchase abilities.
According to the government, the fund is in addition to the provision for the bulk trader in the 2014 budget
The Federal Government and European Union have sealed a funding agreement of N6bn to improve access to modern and sustainable energy sources in Nigeria. The Supervising Minister of National Planning, Ambassador Bashir Yuguda, signed on behalf of the Federal Government, while the EU Ambassador to Nigeria, Mr. Michel Arrion, signed for the union.