Nigeria and South Korea joins hand for the rehabilitation of Kaduna refinery

Nigerian National Petroleum Company (NNPC) and Daewoo Group of South Korea have signed a Memorandum of Understanding for the rehabilitation of the Kaduna refinery. Recall that President Muhamdu Buhari had departed Abuja for  South Korea to participate in the First World Bio Summit, 2022.

He was also present during the signing of the Memorandum of Understanding between the two agencies. According to a statement by Femi Adesina, the Special Adviser to the President on Media and Publicity, Femi Adesina, The President was particularly excited about the contribution of the South Korean Group to Nigeria’s Economy.

He said: “The President was particularly excited as the signing came against the back of ongoing rehabilitation works at Warri refinery by the same Daewoo Group which will at the first instance, deliver fuels production before the first half of 2023. ” 

Read More: 

• I’m Buhari’s Co-Pilot, Not Spare Tire- Osinbajo cries out
• JUST IN: Buhari loses against Nnamdi Kanu in court
• Nigeria’s external debt rises to $40 Billion under Buhari

At the signing, President noted that he is well aware of the massive investment, Daewoo Group has in several sectors of the Nigerian Economy. He also mentioned a few of the projects currently being executed by the same group. He said looks forward to the delivery of the said projects, most especially at the Warri and Kaduna refineries

He said “Daewoo Group has massive investments in the automobile, maritime, and 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 and her partners.”

 “I 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.”

“I thank you for your faith in Nigeria,” President Buhari told the Korean conglomerate at the end of the signing ceremony.