The Niger State government�s drive for the industrialisation of the state has started yielding results with plan by the government in conjuction with a German company to establish a N325 billion petroleum refinery in Baro town in the Katcha Local Government Area of the state.
Under the arrangement, the German company would provide N295.2 billion while the state government would commit about N12.8 billion. The refinery, when completed, would produce 100,000 barrels of petroleum products daily.
A memorandum of understanding between the government and the German company, Shark Petroleum of Germany, was signed in Minna on Tuesday with a pledge by both parties to keep to the terms of the agreement.
The state acting governor, Alhaji Ahmed Ibeto, who initiated the agreement on behalf of the state government, said at the brief ceremony that the breakthrough was one of the major achievements of the four-month-old administration, adding that with efforts of the leadership to propel the development of the state, the state would soon become one of the three top economies in the country.
He said the state was willing to go into partnership with investors for the development of the state because the money accruable to the government from all sources was limited.
Alhaji Ibeto directed that the documents relating to the agreement should be provided to the company immediately while the certificate of occupancy for the land should be delivered within 48 hours