Obasanjo Commends Eruani's $1 Billion Bayelsa Refinery

Former President Olusegun Obasanjo praised Azibapu Eruani, President of Azikel Group, for his $1 billion investment in a private oil refinery located in Bayelsa State. During a ceremony for the installation of the Crude Distillation Unit (CDU) at the Azikel Refinery site in Obunagha community, Obasanjo urged the project's backers to complete the facility within 12 months.

He expressed satisfaction with the progress made since his initial visit eight years ago when he laid the foundation stone. Obasanjo acknowledged the financial support from the African Export-Import Bank and the Africa Finance Corporation, urging them to maintain their commitment until the refinery becomes operational.

Once operational, the refinery is expected to produce Premium Motor Spirit (petrol) and 2 million litres of Automotive Gas Oil (diesel) daily, significantly boosting Nigeria's refining capacity. Eruani stated the project aims to transform the Niger Delta into a hub for petroleum refining and industrial production.

Bayelsa State Governor Douye Diri emphasized the refinery's potential to create jobs and enhance local processing capabilities.