Nigeria to invest N428.8bn ($2.68bn) to build 3 refineries in Indonesia

The federal Government is said to be negotiating an investment of N428.8 billion ($2.68bn) in three refineries deal in Indonesia, South East Asia. The deal if sealed will see the federal government part-owning three refineries in the Far East. The Indonesia Post quoted a top government official as giving the hint of the planned investment by the federal government.

This development is coming at a time when government is planning to remove subsidy from petrol and, more so, at a time it is talking about economic transformation and diversification.

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