Petrocam Trading Nigeria Limited has revealed that it does not plan in investing in Nigeria’s refineries until the federal government deregulates the downstream sector. This was made known by the company’s administrative and sales manager, Eyo Oghogho at the official launching of its ninth solar-powered filling station in Lagos.
According to Guardian, Mrs Oghogho said until the deregulation of the downstream sub- sector of Nigeria’s oil and gas industry, the firm has no plans of investing in refining in the country.
She noted that the company might only consider going into refining when the government removes the cap price on petroleum product. She also stated that despite the economic challenges and difficult environment in which businesses operate in Nigeria, the company has strongly leveraged community and manpower strength to maintain its operations which gave birth to its new solar powered station within the Abule Ado community.
Meanwhile, she mentioned that the new station has 10 underground tanks of 45,000 litres capacity each of petrol and one for Automated Gas Oil (AGO), adding that plans are underway to unveil new station in major state capitals.
She said “We are looking at opening at least five more outlets before the end of the year. We are still doing background works, but