Backbone Infrastructure Secures Funding for 500,000bpd Refinery in Ondo State

Backbone Infrastructure Nigeria Ltd (BINL) has finalized funding exceeding 50 billion for a 500,000 barrels per day refinery project in Ondo State's Sunshine Free Trade Zone. The project, a joint venture with Nefex Holdings Limited, includes infrastructure development and aims to elevate Ondo State's social and economic status.

BINL's team, led by Chairman Ken Nnamani and Executive Management, is collaborating with the Ondo State Government to kickstart the project. The partnership with Nefex Petrolin brings global expertise to the venture.