Pulse.ng logo
Go

Petrolex Group Oil firm to build refinery in Ogun

According to a statement by the oil firm on Thursday in Lagos, the depot would be the largest in sub-Saharan Africa.

  • Published: , Refreshed:
Ogun State Govt. Signs Agreement With 4 Firms to Build Second Largest Refinery in Sub-Saharan AfricaOgun State Govt. Signs Agreement With 4 Firms to Build Second Largest Refinery in Sub-Saharan Africa play

Ogun State Govt. Signs Agreement With 4 Firms to Build Second Largest Refinery in Sub-Saharan Africa

(Bella Naija)

A Nigerian oil firm, Petrolex Group says it has entered into a consortium with Wema Bank and the government of Ogun to build the second largest refinery in Odogbolu area of the state.

According to a statement by the oil firm on Thursday in Lagos, the Chairman of the group, Mr Segun Adebutu, said that other members of the consortium are Hyundai and Ajayi Legal Partner.

Adebutu said that the consortium would also build a petroleum product depot in the area. He said that the depot would be the largest in sub-Saharan Africa.

Adebutu said the two projects would generate about 2,000 jobs and boost the socio-economic condition of the host state.

Mr Henry Alakhume, Head of Corporate Banking at Wema Bank, said the bank was delighted to support the deal. “Wema Bank is proud to support Petrolex Group in the refinery and petroleum depot projects.

“We believe this will significantly boost Nigeria’s economy and create much needed jobs,” he said.

Gov.  Ibikunle Amosun of Ogun assured Wema Bank and members of the consortium of his administration’s commitment to fully support the project.

“We have the political will and we will 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,” Amosun said.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.