Dapo Abiodun, the Ogun State Governor on Wednesday, revealed that Gasoline Integrated International, expressed its willingness to build a N3bn refinery in Tongeji Island, Ipokia Local Government Area of the state.
The Governor’s Chief Press Secretary, Kunle Somorin, in a statement, disclosed that the Chairman of the company, Dr. Lukman Bolaji, said the refinery, when completed would be refining 400,000 litres of crude oil into petrol per day. This was disclosed when he led the company’s directors on a courtesy visit to the governor at his office at Oke-Mosan Abeokuta.
Bolaji also noted that the firm was into upstream and main stream and had acquired an oil block at Tongeji Island.
The refinery, he explained, would be located at Ipokia and would refine 100,000 litres per day and other petroleum products at the beginning, and later expand to 400,000 litres per day in the future.
He said, “The project would sit on 800 hectares of land that had already been acquired. “We are bringing in a capital inflow of N3bn into the state. We would have being on site by now but for the COVID-19 pandemic.
“With this project, Ogun State will have security and guarantee of petroleum products at all times because we intend to serve our immediate environment before taking it outside.”
While also disclosing that the company would generate 110 mega watts of electricity, starting with 37 mega watts, he stated that about 10,000 direct and indirect employments would be generated.
He added that the project would boost the Internally Generated Revenue of the state as well as expand infrastructural facilities and transfer technology to Nigerians.
He said though the project which would be delivered in 36 months, would be powered by Chinese technology, it would be multinational in nature, featuring officials from Nigeria, Taiwan and the United States of America.