NNPC’s Kaduna Refinery Rehabilitation Agreement With Daewoo Group Excites Buhari

President Muhammadu Buhari on Thursday in Seoul, South Korea, said that the signing of the Memorandum of Understanding (MoU) between Nigerian National Petroleum Company (NNPC) Ltd and Daewoo Group of South Korea for the rehabilitation of the Kaduna refinery would boost local petrol production in Nigeria.

The President was excited about the endorsement of the Letter of Intent between the NNPC Ltd and Daewoo Engineering and Construction for the revised strategy to quickly fix the Kaduna Refinery.

He said the signing came against the back of ongoing rehabilitation works at Warri refinery by same Daewoo Group which will at the first instance, deliver fuels production before the first half of 2023.

Buhari commended Daewoo Group for it massive investments in the automobile, maritime and other sectors of the Nigerian economy.

According to him, Daewoo Group is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC & her partners.

“Daewoo Group has massive investments in the automobile, maritime & other sectors of our economy. I am also aware that Daewoo is currently engaged in the execution of the NLNG train seven project and also constructing sea-going LPG vessels for NNPC & her partners.”

The President said he looked “forward to the delivery of ongoing projects, especially at the Warri and Kaduna refineries, and the NLNG Train Seven,” stressing that “This no doubt will open many more windows of opportunities for Daewoo and other Korean companies in Nigeria.

He added, “I thank you for your faith in Nigeria,” President Buhari told the Korean conglomerate at the end of the significant ceremony on the last day of his visit to the Asian country to attend the First World Bio Summit.”