Nigeria has signed a Memorandum of Understanding with International Oil Company ENI with the commitment to refurbish the Port Harcourt Refinery, building of phase two of the Okpai Power Plant and further investments in Nigeria's Oil and Gas Industry worth several billions of dollars.
The MoU was signed in Italy, Rome when the Minister of State for Petroleum resources Ibe Kachikwu met with top executives of ENI in Rome, Italy on Monday
A statement by the Director of Press, Petroleum Ministry Idang Alibi says the minister urged international oil companies to invest in building refineries in the Nigeria.

Menawhile the House of Representatives adhoc committee on the review of pump price of petrol began a two day public hearing on pricing template of petrol in states across the country.
Chairman of the Committee, Rapheal Igbokwe said the essence of the hearing was to check transparency and justify the pricing template fixed by the Petroleum Products Pricing Regulatory Agency.