There are indications that the Federal Governments’ plan to add additional 1.6 million of barrels per day, through new modular refinery may meet dead end, as lack of funds and inefficient policies in the petroleum sector continue to hamper the refineries coming on stream. It would be recalled that over 45 licenses have been issued between 2008 and 2018. However, only one modular refinery has been recorded to have been commissioned. Vanguard investigation shows that the execution of the refinery projects was constrained by many challenges especially lack of funds and difficulty associated in securing competent technical partners. Some owners of these licences, who spoke to Vanguard, said that funds have remained the greatest challenge in bringing the refineries on stream, calling for more support from the Federal Government. Experts believe that until local entrepreneurs embrace global best practices of corporate governance which allows for competent management of resources […]