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Tony Osauzo, Benin
The Edo Refinery and Petrochemicals Limited is to refine 60,000 barrel per day (bpd) of crude oil when it commences operation.
The Refinery’s Head Quality, Health and Safety/ Community Relations, Segun Okeni, disclosed this yesterday during an inspection tour by the seven members Edo State House of Assembly to the site at Ologbo, Ikpoba-okha Local Government Area of the state.
He said the modular refinery would commence operation between end of September and mid-October, adding that the first phase of the project would target 1,000bpd, 6,000bpd for the second phase, and 60,000bpd in the long run.
Okeni stated that the first phase of the refinery is 99 percent completed, adding that it would target four products which include, 55 per cent of diesel, 38 percent of fuel oil, less than 10 percent of naphta and the rest will be gas to power the processing equipment.
Explaining the economic potentials of the project, he said on commencement, the refinery would boost the economy of the locality, state and Nigeria at large.
“Some of the products will be exported thereby boost foreign exchange and by the time we extend it to different phases, we would be able to take care of more than 80 per cent of diesel requirement in Nigeria. That is the vision we have in the next five years.
“We have directly employed more than 300 people; among those are males and females. Majority are from the host communities in Edo. The environment has been friendly, the host community and the government have been cooperative and that is why we are able to deliver to this stage.
“We are almost rounding off, it is just left with less than a percent. We are going to work with the government, and people around the community will benefit from this project,” he said.
Okeni also disclosed that there are plans currently in progress to source crude from the Nigerian Petroleum Development Company (NPDC) facility few kilometres away from the project site.
In his comment, the Speaker of the seven member Edo State House of Assembly, Francis Okiye, commended the executive arm of the government, saying that the investment is for the benefit of Edo people.
He expressed optimism that the project would create more revenue, jobs, wealth and ease the pressure on other refineries.
“For us to be satisfied that there is judicious use of the money appropriated by the executive. We are here on an oversight function and inspection for proper justification of our funds.
“As part of stimulus to encourage investment. The governor committed N700m to the company. There is already employment and there will be chains of benefits that will be coming here.
“As an individual I am satisfied with the investment . The investment here is apt, worth it, futuristic and beneficial to the state.
“As a house, there is justification and accountability, and we will get back to put up our report. We will look at where this investment will further be encouraged for expansion because the bigger the better for Edo,” he said.
The Edo Refinery and Petrochemicals Limited is a project partly sponsored by the Governor Godwin Obaseki-led administration in Edo State and being developed by AIPCC Energy Limited.
