Canadian Firm and Backbone Infrastructure Secure $50bn for Nigerian Refinery Project
Backbone Infrastructure Limited and Canadian firm Nefex Holdings Limited have secured $50 billion funding to construct a 500,000 barrels per day refinery in Ondo State, Nigeria. The project, located in the Sunshine Free Trade Zone, is a significant investment in Nigeria's history.
The partnership aims to bring global technical expertise and financial experience to Nigeria's energy sector. Once operational, the refinery will support domestic consumption, industrial use, and export markets, enhancing Nigeria's energy security and reducing fuel imports.
The project involves engagements with local communities and government officials to ensure successful implementation.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Backbone Infrastructure Secures Funding for 500,000bpd Refinery in Ondo State
New $50B Refinery Project Led by Binl Consortium in Ondo State Boosts Nigeria's Oil Sector
Ondo State Governor Announces $50 Billion Refinery Investment Deal
Dangote Group Partners with Honeywell to Upgrade Refinery Capacity in Nigeria
Dangote Partners with Honeywell to Upgrade Refinery Capacity
NNPCL's Refinery Overhaul Drives Asset Surge to N162 Trillion
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
