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It’s a private sector Refinery owned by AIPCC Energy Limited — a JV between AFCOM, subsidiary of Peiyang Chemical Equipment Company of China (PCC); and African Infrastructure Partners (AIP). The Refinery is being developed with the strong support of @NigeriaGov & Edo State Govt.
aipccenergy.com/about-us
“Edo Modular Refinery was built at the cost of $10.2m. It produces diesel, Naptha & Fuel oil (LPFO). @NigeriaGov supported the project by granting duty waivers on refinery equipment & components while the State Govt provided N700m in debt financing.” google.com/amp/s/business…
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tolu ogunlesi
@toluogunlesi
It’s extremely difficult to trust much of what you read in Nigerian papers.

Certainly not the headlines, which are now routine sleight-of-hand moves, designed to lead you away from, not closer to, the truth.

Everything now reduced to a [redacted] devious game of deception.
Never ever come to a conclusion based on a headline. A lot of headlines are sadly clickbait.

Always open the story and read in full. Read with your brain fully switched on.

After reading, you may need to still use Google for context. At least that’s what I do.
I’ve noticed that very often a headline will not make a distinction between an opinion and a fact.

Example below:
Read 8 tweets
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tolu ogunlesi
@toluogunlesi
This is a misleading headline and poorly crafted story. Not surprising from Daily Post - consistently poor output!

Here, from @ecowas_cedeao website, is the actual context: It’s something called a “stock rotation exercise”, a normal, cyclical thing: ecowas.int/ecowas-provide…
Some of your MCMs, including supposedly highly-educated ones, are in the comments mouthing off ignorantly, as they like to do while pretending to be unbiased observers of everything. SMH.
From ECOWAS website:

“1st Feb 2019. @ecowas_cedeao has carried out a stock rotation exercise of 5,000 Metric Tons (MT) of food grains from its Regional Food Security Reserve by availing it to the Federal Republic of Nigeria on 31st January 2019 in Kano, Nigeria.”
Read 9 tweets
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tolu ogunlesi
@toluogunlesi
HM @tundefashola says the expected cost of locally-produced bitumen is about N125,000 per metric tonne, versus imported bitumen which is N285,000.

That is, Locally produced = 43.8 percent of the cost of imported.

Hence the @FMWHNIG bitumen policy that FEC approved recently.
“Nigeria has an estimated 38 billion barrels of bitumen reserve and extra heavy oils that have remained untapped for years across the country but especially in Ondo, Lagos and Edo States.” — @FMWHNIG
So Kaduna Refinery & Petrochemical Co. has the capacity to locally produce all of Nigeria’s current bitumen consumption requirements. It’s however not currently producing. So that needs to change.

There’s of course room for other investors too. @FMWHNIG pledging support.
Read 5 tweets

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