By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Ogun govt set to build ₦3bn refinery in Tongeji Island
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Energy & OilNews

Ogun govt set to build ₦3bn refinery in Tongeji Island

Okay.ng
By Okay.ng
Published: November 10, 2022
Share
4 Min Read
SHARE

Yesterday, the Ogun State Government, led by Dapo Abiodun, made a significant step toward turning the state into an oil-producing one when Gasoline Integrated International said it was willing to construct a N3b refinery in Tongeji Island, Ipokia Local Government Area.

Kunle Somorin, the governor’s chief press secretary, said in a statement that once the refinery is finished, it will be able to turn 400,000 liters of crude oil into gasoline each day.

When he led the company’s directors on a courtesy visit to Governor Abiodun in his office at Oke-Mosan, Abeokuta, the company’s chairman, Dr. Lukman Bolaji, disclosed this. He also mentioned that the firm is involved in upstream and main stream activities and had recently acquired an oil block at Tongeji Island.

He explained that the refinery would be situated in Ipokia and would initially refine 100,000 litres per day as well as other petroleum products before increasing to 400,000 litres per day.

- Advertisement -

He stated that 800 hectares of land had already been purchased for the project.

“We are introducing N3 billion in new capital into the State. If not for the COVID-19 pandemic, we would already be on the scene.

We plan to serve our immediate surroundings before bringing it outside, thus with this initiative, Ogun State will always have security and guarantee of petroleum products, Bolaji noted.

He also indicated that the company will produce 110 Mega Watts of electricity, starting with 37 Mega Watts, and that the project would increase the economy by generating around 10,000 direct and indirect jobs.

- Advertisement -

Internally generated state funds are used to transmit technology to Nigerians, improve infrastructure, and other purposes.

Nevertheless, he stated that Chinese technology would be used in the project, which would be completed in 36 months. It would be an international organisation with representatives from Nigeria, Taiwan, and the US.

The Olowu of Owu, Oba Saka Matemilola, who led the team, also spoke. He explained that the company was in the state to prospect for oil and build a refinery for petroleum products. He claimed that the project would help the state become an oil-producing one in the near future.

In response, Governor Abiodun said Ogun and Lagos States consume nearly 70% of all petroleum products in Nigeria, adding that the project was initiated after the state lost a project of a similar nature to a neighbouring state.

In order to encourage business activities, he claimed that his administration had established investment hubs across the zones. He also claimed that organisations had been established for a smooth relationship between the State government and investors to encourage ease of doing business in the state.

The governor emphasised that the initiative is in line with his administration’s public private partnership agenda to advance individual prosperity and hailed it as a positive development.

Abiodun referred to Ogun West as a crucial region that has significantly contributed to the state’s status as the nation’s industrial centre. He also stated that his administration was adamant about helping the region industrialise by paying attention to it in line with its economic agenda.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Ogun govtOil company
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByOkay.ng
Follow:
Okay.ng launched under OKN MEDIA PUBLISHING (RC Number: 2993580) in the year 2012 is an independent digital news platform with thousands of page views and unique visitors every month
Previous Article Kwankwaso My administration will engage separatist groups for talks — Kwankwaso
Next Article I do not know why Nigerians are objective about Naira change – Buhari

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?