Having lost the proposed Africa’s largest refinery by Aliko Dangote, to Lagos State, Governor Ibikunle Amosun of Ogum State on Wednesday signed an agreement with Petrolex Group on the construction of a multi-million dollar refinery in Odogbolu Local Government Area of the state.
BusinessDay reports that Dangote moved $14 billion Dangote Refinery and Petrochemical Plant earlier proposed to be sited at Olokola Free Trade Zone, lying on the border of Ogun and Ondo states to Lekki, Lagos, following an alleged misunderstanding between the state government and owner of the refinery.
But, in what looks like a compensation, a consortium of four investors and firms, which include Petrolex Oil and Gas, Hyundai, Ajayi Legal Partners and Wema Bank plc, signed a refinery investment with the state government through Governor Amosun on the construction of proposed second largest refinery in Africa.
Speaking after the signing of the agreement in the presence of the team being led by Segun Adebutu, chairman, Petrolex Group at the Governor’s Office at Oke-Mosan in Abeokuta yesterday, Amosun said the refinery would be the second largest in sub-Saharan Africa and the largest petroleum product depot in Nigeria.
He said the two projects, when completed, would generate not less than 2,000 employment opportunities and would greatly increase the socio-economic condition of the state, and assured the consortium of his administration’s commitment to fully support the project.
“We have the political will and we would support the project fully. You can be rest assured that I will get involved, when necessary, in order to ensure that the project is a success. Any government that will get it right, indeed must be private sector driven,” the governor said.
He, however, said Ogun State “does not just want any investment but that which will truly support the dreams, goals and economic drive of the present administration in the state.”
