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Wema Bank, Ogun state, others partner set to build modular refinery


The Ogun State Government is going into partnership with a consortium of four private firms to build a refinery, proposed to be the second largest in Sub-Saharan Africa

The agreement was signed in Abeokuta between the government and four firms: Petrolex Oil and Gas, Hyundai, Ajayi Legal Partners and Wema Bank PLC. The partners would also build a petroleum product depot in Nigeria, as stipulated in the agreement.

The Chairman, Petrolex Group, Segun Adebutu, who led the other partners at the ceremony, said the refinery would be cited in Odogbolu Local Government Area of the state, adding that the two projects will generate about 2,000 employment opportunities for the people and also boost the socio-economic condition of the state when completed.