With the removal of subsidy on Premium Motor Spirit (PMS) in Nigeria, there is an incentive for the development and expansion of refineries to meet domestic fuel demands and enhance our energy security by reducing dependence on foreign oil suppliers and price fluctuations in the international market. While the establishment of more refineries creates employment opportunities and economic growth, there may be a rise in environmental pollution considering the complex nature of refinery construction and operations. Some of the environmental concerns to be considered by investors include:
- Refineries emit various pollutants into the atmosphere, including sulphur dioxide (SO2), nitrogen oxides (NOx), volatile organic compounds (VOCs), and particulate matter. These pollutants contribute to air pollution and can have adverse effects on human health and ecosystems if not properly controlled.
- Refineries require significant amounts of water for cooling, process steam, and other purposes. If not managed properly, the discharge of wastewater containing oil residues, heavy metals, and chemicals into water bodies can harm aquatic ecosystems and compromise water quality.
- The contamination of soil, although not significant can pose some threats over time. The soil can be contaminated through some hazardous wastes, spent catalysts or coke dust, tank bottoms, and sludge from the treatment processes can occur from leaks as well as accidents or spills on or off-site during the transport process.
- Increased refining activities can potentially exacerbate climate change unless efforts are made to mitigate the associated environmental concerns.
At TPI, we are available to collaborate with the government, investors, financiers, and regulatory bodies to implement effective environmental controls and management procedures to foster sustainable business practices.
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