Midoil Refining and Petrochemicals Company Limited Breaks Ground on New Refinery in Lagos, Nigeria
Lagos, Nigeria – Midoil Refining and Petrochemicals Company Limited has taken a significant step forward in its long-planned refinery project, holding a traditional turning of the sod ceremony in the Shekungba, Ikosi/Ejinrin Local Council Development Area of Lagos State. The ceremony marks the formal commencement of construction activities on the refinery, which is expected to transform the local community and drive economic growth in the region.
Led by Mrs. Elizabeth-Omolara Akintonde, Executive Chairman of Midoil, the company assured community leaders and members that the refinery would bring immediate development and create both direct and indirect jobs. Akintonde expressed gratitude to the village heads for refusing to be misled by individuals who attempted to bribe them to renege on their agreements.
The refinery, which is set to have a refining capacity of 100,000 barrels per day, is expected to play a crucial role in boosting Nigeria’s energy landscape and reducing fuel importation. Akintonde emphasized the company’s commitment to delivering the project, stating that “all these bushes you see today, in the next couple of months, you will see them no more.”
Hajia Amina Abdullahi, a Director of Midoil and Chairman of Serenecity Staff Housing Estate, expressed joy over the project’s commencement after over a decade of delay. “We have faith in God that we will witness the inauguration of the refinery. We know this is a big project that will go through many processes, but with the turning of the sod today, we have taken the right step,” she stated.
Retired Justice Olusola Hunponu-Wusu, a founding member of the proposed refinery, opined that Nigeria needs more refineries to increase its refining capacity and reduce fuel importation. He advised the country to increase its low oil production, expressing confidence that feedstock would not be a setback when the Midoil refinery comes online.
During the ceremony, the Bishop of Lagos Anglican Communion, Ifedola Okupevi, prayed for the successful completion of the project at the right time.
The Midoil refinery has a long history, dating back to April 24, 2014, when the Lagos State Government allocated a large expanse of land to the company. On January 24, 2017, the Department of Petroleum Resources granted Midoil the necessary licenses to establish the refinery. However, securing interested investors willing to invest in the project was a major challenge, with the company securing three consortiums of investors willing to invest $5 billion in the project.
