No economic sense in laying sub-sea pipelines at a cost of $5 Billion – Governor Udom

Southsouth and Southeast Governors’ Forum Interim Chairman and Akwa Ibom State Governor Udom Emmanuel has said refineries and petrochemical industries should be built where oil is explored.

“It doesn’t make economic sense to lay sub-sea pipelines from the location where oil is explored to other parts of the nation at a cost of five billion dollars (about two trillion naira). This amount is enough to build many modular refineries and establish seven industrial parks in the region,” Emmanuel said.

Explaining the reason leading to realignment of economic and political forces of the two zones in a statement yesterday, Emmanuel applauded leaders of the zones for coming together to harmonise their economic interests and pursue inter-regional cooperation and integration

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