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AKURE – Ondo State would soon join comity of states with refineries in the state country as the state Government has signed a Memorandum of Understanding (MoU) with Backbone Infrastructure Nigeria Limited (BINL) to build a 500,000bpd oil refinery and develop the free trade zone in the state.
The executive team of BINL had met with Governor Lucky Aiyedatiwa earlier in the week on the intension of the private investors to establish the two mega industries..
The projects to be executed by BINL include the establishment, funding, construction, and operation of a 500,000 barrels-per-day (bpd) refinery, and the management of infrastructure for the Sunshine Free Trade Zone at the Sunshine Industrial Park located in Ogboti/Erunna, Ilaje Local Government Area.
Giving his remarks at the official signing ceremony held in Akure, the Secretary to the State Government(SSG), Dr. Taiwo Fasoranti, said the business deal with the firm is a transformative step that would accelerate development in both state and the federation at large.
He said: “This is a landmark development. The refinery and associated infrastructure will change the economic landscape of our state.
“It will not only create jobs but also reduce crime and support our vision of bringing democratic dividends to our people.”
Dr. Fasoranti commended Governor Lucky Aiyedatiwa for his proactive developmental efforts, reaffirming the government’s full support for the private sector partnership.
He emphasized that “You can count on us. What you’re bringing will change the face of this state.”
Addressing the investors after the signing of the MoU, the SSG noted that environmental sustainability and community engagement are important, calling on them (investors) to safeguard the host environment and maintain cordial relationship with the host community.
In his remarks, the CEO/Managing Director of BINL, Mr. Henry Onwonka, appreciated Governor Aiyedatiwa and the state government for giving him the opportunity.
He reiterated the company’s commitment to the industrialisation agenda and job creation efforts in the state, adding that “This partnership is a reflection of our dedication to supporting the state’s economy through strategic investments.”
The Vice President, Legal and Corporate Affairs of BINL, Barr. Wale Adekola, described the signing of the MoU as the beginning of “greater things to come” for Ondo State, expressing optimism about a fruitful collaboration.
Also the Administrative Secretary of the Ondo State Development and Investment Promotion Agency (ONDIPA), Emmanuel Omomowo, explained that the terms of the agreement had undergone full legal and administrative reviews, paving the way for execution.
Among dignitaries who witnessed the event are the state Attorney General and Commissioner for Justice, Dr. Kayode Ajulo (SAN); BINL Board Member, Dr. Stephen Dike; Vice President, Oil and Gas, Dr. Aliyu Ahmed; Vice President, Architecture and Design, Mr. Paul Waliber; and Vice President, Technology, Mr. Jean-Michel Roberts, management staff of ONDIPA and representatives from both the state government and BINL.
The development would turn around the state socio-economic development as it would create numerous job and business opportunities.
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