President Buhari yan say extra income from the rising oil price dey go into infrastructure development

President Muhammadu Buhari don pledge say Income accruing to the country from rising oil prices for the international market will be spent on infrastructural development.

Receiving a delegation from Eni, lead by the Chief Upstream Officer, Mr Antonio Vella, the President say the extra fund outside the provision of year 2018 budget:

 "will be deployed to infrastructure projects like roads, rail, and power, for the good of our people, and for the development of the country."

Budget 2018 provisions don dey predicat on $45 per barrel by the Executive, and the Senate don adjust am to $47 per barrel. Oil prices don, however, rise to $70 per barrel, this week.

President Buhari also appreciate Eni for it upcoming investments for the oil industry, wey include rehabilitation of Port Harcourt refinery, and the building of a new one.

"In my first coming, all our refineries were working. Port Harcourt used to refine 60,000 barrels per day, and it was later upgraded to 100,000 barrels. Kaduna and Warri were also working optimally, and we used to satisfy the demand of the local market. We equally exported 100,000 barrels of refined petrol. Now, no refinery is performing up to 50%. It is a disgraceful thing," the President yan.