He explained that the first phase would be completed in 18 months, the second phase in 24 months and the final phase would be within 44 months.
He assured that the other three refineries will be put in place before the end of the Buhari-led administration.
He said, “The Ministry of Petroleum Resources presented a memo on the rehabilitation of Port Harcourt refinery for the sum of $1.5 billion, and that memo was $1.5 billion and it was approved by council today (Thursday).
“So, we are happy to announce that the rehabilitation of the productivity refinery will commence in three phases.
“The first phase is to be completed in 18 months, which will take the refinery to a production of 90% of its nameplate capacity.