Nigeria signs a $741 oil deal with a South Korean engineering firm

In a statement issued by the NNPC, it was revealed that the signing ceremony took place on Thursday at the NNPC Towers in Abuja.

For a quick fix repair of Kaduna Refinery and Petroleum Company, the Nigerian National Petroleum Company (NNPC) Limited has inked a $741 million maintenance service contract with a South Korean engineering company, Daewoo Engineering and Construction Company Limited (KRPC).

The current agreement is a component of the federal government’s efforts to lessen Nigeria’s excessive reliance on petroleum imports, which is a major cause of embarrassment for a nation that is Africa’s top crude oil producer.