A company, Gasoline Integrated International, indicated its willingness to develop a N3b refinery in Tongeji Island, Ipokia Council of Ogun State, marking a significant milestone in the state’s transformation into an oil-producing one.
According to a statement made in Abeokuta by the Governor’s Chief Press Secretary, Kunle Somorin, the refinery would have the capacity to turn 400,000 liters of crude oil into gasoline per day once it is fully operational.
When he led the company’s directors on a courtesy visit to the governor, Governor Abiodun, in his office at Oke-Mosan Abeokuta, the company’s chairman, Dr. Lukman Bolaji, disclosed that the firm is into upstream and mainstream and had acquired an oil block at Tongeji Island.
He explained that the refinery would be situated in Ipokia and would first process 100,000 liters of petroleum products per day, expanding to 400,000 liters per day in the future. He stated that 800 hectares of land had already been purchased for the project.
“We are bringing in a capital inflow of N3bn into the state. We would have been 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:
He added that the project would increase the state’s internally generated revenue as well as expand infrastructure, provide technology to Nigerians, and generate 110 Megawatts of electricity, starting with 37 Megawatts. He also stated that approximately 10,000 direct and indirect jobs would be created.
Although the project would be completed in 36 months and be powered by Chinese technology, according to him, it would be global in nature and involve authorities from Nigeria, Taiwan, and the United States of America.
The Olowu of Owu, Oba Saka Matemilola, who headed the team, also spoke. He explained that the firm was in the state to prospect for oil and to construct a refinery for petroleum products. He claimed that the project will assist the state in becoming an oil-producing one in the near future.
The proposal, according to Governor Abiodun, comes after the state lost a comparable project to a neighboring state, and he responded by revealing that Ogun and Lagos states consume around 70% of petroleum products in Nigeria.
He did, however, note that “a project like this is not a stroll in the park” and that a team will be formed to communicate with the corporation for future conversations.
“I want to assure you that as an administration whose thrust is encouraging investors, a team to work with your team to deal with issues that may arise will be set up. “
Our happiness will come from Ogun State producing oil.
“Tongeji is important to us. We are working to ensure that something happens in that Island”, the governor submitted.”