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Gov Oyetola signs MoU to establish bio-refinery in Osun

September 27, 2021 No Comments

The Governor of Osun State, Adegboyega Oyetola, has signed a Memorandum of Understanding (MoU) between the state and a firm, VirtueplusTwo Integrated Nigeria Limited, for the establishment of a bio-refinery in the state.

The bio-refinery said to be the first of its kind in the state will be situated on a large expanse of land measuring over 20 acres at Ayekale area in the Boripe Local Government Area of the state.

Speaking at the event on Sunday, and witnessed by the state Commissioner for Justice, Mr Femi Akande, the governor said his government took time to carefully study the MoU bothering on the integrity and competence of the firm to deliver the multi-million naira project.

Represented by the Commissioner for Environment and Sanitation, Hon. Sola Oladepo, the governor described the pact as another breakthrough in the area of the industrialisation of the state.

Oyetola said the establishment of a bio-refinery in the state would aid the growth of small and medium scale enterprises.

A moratorium period of two years have been given to a firm known as VirtueplusTwo Integrated Nigeria Limited to build a bio-refinery in our state.

“…by the time a bio-refinery of this magnitude becomes fully functional in the Ayekale area of the state, it would create 5,000 direct and 10,000 indirect employment opportunities for the people.

“The attendant benefits of the bio-refinery are therefore immeasurable for the citizens and non-citizens of our dear old state,” he said.

In his remarks, Chairman/Managing Director, VirtueplusTwo Integrated Nigeria Limited, Dr Segun Iroko, lauded the confidence in his firm by the state government to deliver the first-ever bio-refinery project in the state.

He said work would commence in earnest at the project site in Ayekale in a few days.

According to a statement, Soraz Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement.

The Nigerian Government has signed a Memorandum of Understanding with the Government of Niger Republic for petroleum products importation.

In a statement in Abuja, Group General Manager/Special Adviser on Media to the Minister of State for Petroleum Resources, Garba Deen Muhammad, said the MoU was reached following bilateral agreements between President Muhammadu Buhari and President Mahamadou Issoufou of Niger.

According to a statement, Soraz Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement. This leaves a surplus of 15,000 barrels per day.

Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation, signed the MoU on behalf of Nigeria while Alio Toune, Director-General of Niger Republic’s National Oil Company, Societe Nigerienne De Petrole, signed on behalf of his country.

Speaking shortly after the MoU signing, Sylva expressed delight over the development, describing it as another huge step in developing trade relations between both countries.

He said, “This is a major step forward. Niger Republic has some excess products which needs to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relation for both countries. My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”

Also commenting on the development, the Secretary General of African Petroleum Producers Organisation, Dr. Omar Ibrahim, said he could not be happier with what he witnessed in terms of co-operation and collaboration between the two APPO member countries in the area of hydrocarbons.

He said, “I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone.”