Midoil refinery begins construction

Midoil Refining and Petrochemicals Company Limited has officially commenced construction activities in Lagos with a groundbreaking ceremony at Shekungba, Ikosi/Ejinrin Local Council Development Area.

The event was led by the Executive Chairman of Midoil, Mrs. Elizabeth-Omolara Akintonde, who was joined by various dignitaries at the expansive site spanning multiple communities within the council area.

Akintonde reassured local leaders and community members that the refinery would bring significant development and create numerous direct and indirect job opportunities. She also praised the village heads for standing firm against attempts by some individuals to bribe them into breaking their agreements.

Coinciding with her 74th birthday, Akintonde highlighted that the Midoil refinery would enhance Nigeria’s energy landscape with a refining capacity of 100,000 barrels per day. “All these bushes you see today, in the next couple of months, you will see them no more,” she said, expressing her commitment to making the project a reality.

Hajia Amina Abdullahi, one of the Directors of Midoil and Chairman of Serenecity Staff Housing Estate, expressed joy over the commencement of the project after over a decade of delays. “We have faith in God that we will witness the inauguration of the refinery. We know this is a big project that will go through many processes, but with the turning of the sod today, we have taken the right step,” she stated.

Retired Justice Olusola Hunponu-Wusu, a founding member of the proposed refinery, emphasized the need for more refineries in Nigeria to boost its refining capacity and eliminate fuel importation. He expressed confidence that the feedstock supply would not be an issue once the Midoil refinery becomes operational.

The Bishop of Lagos Anglican Communion, Ifedola Okupevi, conducted the sod-turning ceremony and prayed for the timely completion of the project.

On March 17, 2024, the Chairman of Midoil signed agreements with representatives from Shekungba, Arogbo, and Ererufu, presenting cheques to the host communities. Akintonde explained that the land was acquired from former Governor Babatunde Fashola’s administration, with the land allocation letter received on April 24, 2014. The licenses to establish the refinery were obtained on January 24, 2017, from the then Department of Petroleum Resources.

“It has taken Midoil 10 years to secure interested investors willing to invest in Nigeria and our project. But to the glory of God Almighty, we now have three consortiums of investors willing to invest $5 billion with us. The major reason for the delay has been sourcing the required funding from overseas,” Akintonde concluded.

 

(Punch)

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