A private firm, Backbone Infrastructure Nigeria Limited is set to sign a Memorandum of Understanding(MoU) with Ondo State government to establish a 500 bpd-capacity oil refinery in the state.
The Chief Press Secretary to the governor, Ebenezer Adeniyan, said on Tuesday, that the firm is proposing a refinery, a free trade zone, and other critical infrastructure projects in the state.
Governor Lucky Aiyedatiwa promised that his administration would give full backing to genuine investors whose projects align with the state’s development goals.
The governor received the leaders of Backbone Infrastructure Nigeria Limited in his office on Monday, disclosing that the state government and the company are expected to sign a Memorandum of Understanding (MoU) on the project later in the week.
He described the proposed investments as timely and strategic, assuring the group of a peaceful, business-friendly environment.
He explained that the projects would boost the state’s economy and create meaningful job opportunities and reduce crime in the state.
He said: “This is real for me. Once construction begins, the economic landscape will change. Businesses will spring up, and our people will have better livelihoods.
“You can count on us; we were elected to support growth. What you’re bringing, especially the refinery and other projects, will change the face of this state. You’ve seen the potential in Ondo, and we will give you all the support you need.”
He disclosed that the collaboration between the investors and the Ondo State Development and Investment Promotion Agency (ONDIPA) is encouraging, saying he’s confident of the project’s success.
He noted that “This is not just for Ondo, It will benefit the entire country. The refinery will serve Nigeria with its products.”
Aiyedatiwa explained to the investors some of the untapped resources in the state, which he listed as bitumen deposits and the state’s long coastline.
He disclosed that license has already been secured for a deep seaport and the government is in talks with international partners, including investors from China.
A board member of the company, Mr. Stephen Dike, expressed the team’s strong confidence in the leadership and vision of the Aiyedatiwa-led administration.
He emphasized that their decision to begin their operations in Ondo State was based on the clarity of purpose and support they had received.
He said: “Our partnership with Ondo State is very important to us. This is the foundation of our entry into Nigeria. We’ve had other invitations, but none has matched the motivation and leadership alignment we found here.”
The Managing Director of Backbone Infrastructure Nigeria Limited, Mr. Henry Owonka, reiterated the company’s readiness to begin the implementation of the project.
He said: “Since our last meeting, we’ve worked closely with ONDIPA to develop a working framework. Your team has been outstanding. We are now prepared to sign an MOU and begin work.”
