MIDOil Refining and Petrochemicals Company Limited is set to kick off the construction of a 100,000 barrels per day modular refinery in Sekungba/Ejinrin, Ikosi/Ejinrin Local Council Development Area of Lagos State..READ FULL ARTICLE HERE>>>>
Mrs. Elizabeth-Omolara Akintonde, the Executive Chairman of MIDOil, revealed this development during the unveiling of a three-in-one investment opportunity recently.
The idea to establish a refinery was conceived over a decade ago in collaboration with an official from the then Nigerian National Petroleum Corporation, Hajiya Amina Abdullahi, according to Akintonde.
“As a marketer of refined petroleum products since 1984, I saw the need to contribute to the growth of our dear country, Nigeria, and Hajiya Amina Abdullahi agreed. This gave birth to the present move to establish a modular refinery in Lagos State,” she explained.
Akintonde mentioned that the refining company was registered on April 12, 2012. She further elaborated that a significant expanse of land was acquired from the administration of former Governor Babatunde Fashola, with the land allocation letter received from the Lagos State Government on April 24, 2014.
“Subsequently, on January 24, 2017, we were granted licenses to establish by the then Department of Petroleum Resources,” she added.
Regarding the delay in executing the project, Akintonde cited challenges such as securing interested investors and obtaining required licenses from various Nigerian government agencies. However, she expressed gratitude for the recent development of three consortiums of investors willing to invest $5 billion in the project.
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The groundbreaking ceremony for the proposed modular refinery is scheduled for July 12, as announced by Akintonde. Additionally, MIDOil plans to establish filling stations nationwide.
During the event, Akintonde presented cheques to the host communities and urged the Lagos State Government and community leaders to address the issue of land grabbers in the state. She also called for the education of traditional settlers to support companies’ efforts to positively transform their communities.
Once completed, the 100,000 barrels per day refinery will become the second refinery in Lagos after the Dangote oil refinery..READ FULL ARTICLE HERE>>>>
