Sustainable Employment, Agricultural Prosperity, Lower Fuel Costs: Expert on Benefits of New Refinery in Cameroon
Sustainable Employment, Agricultural Prosperity, Lower Fuel Costs: Expert on Benefits of New Refinery in Cameroon
Cameroon is counting on the Kribi refinery to reduce its dependence on imported fuels. Supported by a partnership with Emirati company Ariana Energy, the project could enter partial operation as early as this year.
Cameroonian economist and financial expert Jean Marie Biada listed the direct economic impacts of such a facility in an interview with Sputnik Africa:
Increased supply of locally produced finished petroleum products;
Refining is linked to petrochemical production, “which would therefore provide a powerful boost to second-generation agriculture—so widely promoted, praised, and exalted by the authorities—enabling it to reach cruising speed.”
The reduction in imports of refined petroleum products will create “decent and reliable employment” and allow the State to save foreign currency.
The operation of the new refinery should lower fuel costs, which is extremely important for the mining sector, the construction and public works sector, and the road transport sector, he hopes.
In addition, strengthened storage capacity will enable the State to produce more energy for households.
“This new refinery will strengthen Cameroon’s energy sovereignty, which will benefit from it by giving a boost to increasing the purchasing power of Cameroonians and adding even more substance to the household shopping basket.”
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