Dapo Abiodun, Governor of Ogun State, announced on Wednesday that Gasoline Integrated International has expressed its willingness to build a N3 billion refinery in Tongeji Island, Ipokia Local Government Area of the state.
In a statement, the Governor’s Chief Press Secretary, Kunle Somorin, stated that the Chairman of the company, Dr. Lukman Bolaji, stated that when completed, the refinery would be refining 400,000 litres of crude oil into petrol per day.
According to the statement, Bolaji revealed this while leading the company’s directors on a courtesy visit to the governor at his office in Oke-Mosan Abeokuta.
He mentioned that the company was involved in both upstream and downstream activities and had acquired an oil block on Tongeji Island.
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He explained that the refinery would be located in Ipokia and would initially refine 100,000 litres per day and other petroleum products before expanding to 400,000 litres per day in the future.
“The project would sit on 800 hectares of land that had already been acquired,” he said.
“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.”
He also stated that the company would generate 110 megawatts of electricity, beginning with 37 megawatts, and that approximately 10,000 direct and indirect jobs would be created.
He also stated that the project would increase the state’s internal generated revenue, expand infrastructure, and transfer technology to Nigerians.
He stated that, while the project, which would be completed in 36 months, would be powered by Chinese technology, it would be multinational in nature, with representatives from Nigeria, Taiwan, and the United States of America participating.
