Gasoline Integrated International plans to build 400,000 litres refinery in Ogun State

GOVERNOR Dapo Abiodun of Ogun State has announced ambitious plans to attract energy giant Gasoline Integrated International (GII) to invest in the state and build a N3bn ($6.8m) refinery on Tongeji Island in Ipokia Local Government Area.

GII is currently involved in the upstream sector of the market and recently acquired an oil block on Tongeji Island, sparking off an interest in Ogun State. Kunle Somorin, Governor Abiodun's spokesman, said that the GII chairman Dr Lukman Bolaji, pointed out that the refinery, when completed would be refining 400,000 litres of crude oil into petrol per day.

Dr Bolaji recently led the company’s directors on a courtesy visit to the governor at his office at Oke-Mosan Abeokuta, where the two sides rubbed minds on the project. He told the governors that the refinery would be located at Ipokia and would refine 100,000 litres per day and other petroleum products at the beginning but then later expand to 400,000 litres per day.

“This project would sit on 800 hectares of land that had already been acquired. 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,” Dr Bolaji added.

He also disclosing that the company would generate 110MW of electricity from the project, and about 10,000 direct and indirect jobs would be created from the venture. According to Dr Bolaji, the project would boost the internally generated revenue of the state as well as expand infrastructural facilities and transfer technology to Nigerians.

He said that although the project which would be  delivered in 36 months, would be powered by Chinese technology, it would be multinational in nature. According to Dr Bolaji, it would involve officials from Nigeria, Taiwan and the US.