Skip to main content

Wema Bank, Ogun, others seal funding pact on new refinery


Wema Bank and three other companies Petrolex Oil and Gas, Hyundai and Ajayi Legal Partner have signed a deal with the Ogun State Government to build the second largest refinery in sub-Saharan Africa and the largest petroleum product depot in Nigeria.

The Chairman, Petrolex Group, Mr. Segun Adebutu, while speaking at the signing ceremony, said the two projects which will be located in Odogbolu Local Government Area of the state, when completed would generate at least 2000 jobs and greatly increase the socioeconomic condition of the host state.

Commenting on the project, Head of Corporate Banking, Wema Bank, Henry Alakhume, expressed delight at the deal.

According to him, the Bank is proud to support Petrolex Group in the refinery and petroleum depot project, adding that the project will significantly boost Nigeria’s economy and create much needed jobs.

Ogun State Governor, Ibikunle Amosun, assured Wema Bank and members of the consortium of his administration’s commitment to fully support the project.

“We have the political will and we would support the project fully. You can be rest assured that I will get involved, when necessary, in order to ensure that the project is a success,” Amosun said.

Comments

Post a Comment

Popular posts from this blog

Turkey bomb victims ‘mostly children’surviving

Most of the victims of the bombing of a Kurdish wedding party in the Turkish city of Gaziantep on Saturday were children, media reports have said. Twenty-nine victims were under the age of 18, reports said, with one official saying 22 were under the age of 14. The death toll rose to 54 yesterday. The suicide bomber himself was a child aged between 12 and 14, President Recep Tayyip One woman lost four children in the attack, Emine Arhan, said yesterday: “If it wasn’t for my only surviving child, I would have killed myself.” Another victim was a nine-year-old girl who had stayed on at the party to see the bride after her parents had left, according to reports. A disproportionately large number of women and children were killed in the attack because it targeted henna night, a part of the celebration attended mainly by women and children. Turkish officials said the type of bomb used, which contained scraps of metal, was similar to those used in previous attacks on pro-Kurdish gatherings. ...
Post a Comment
Read more

INEC to deploy 18,511 personnel for Edo governorship poll

The Independent National Electoral Commission (INEC), said it would deploy 18,511 personnel for the conduct of Sept. 10 governorship election in Edo. This is contained in the commission’s daily bulletin issued on Thursday in Abuja. INEC Chairman, Prof Mahmood The number, according to the commission, will comprise one Returning Officer, 18 Local Government Area Collation Officers, 192 Registration Area Collation Officers and 263 Supervisory Presiding Officers. Others are 2,627 Presiding Officers, 12,036 Assistant Presiding Officers (APOs) I, II and III; 2,530 Assistant Presiding Officers and 728 Reserve APOs. Also on the deployment list were 19 LGA Supervisors, with one “Headquarters Reserve’’ and 97 Registration Area Cluster Supervisors as well one headquarters reserve. Edo, with 18 local government areas, has a total of 1,925,105 registered voters, 192 Registration Areas, 2, 627 Polling Units and 4, 011 Voting Points.
Post a Comment
Read more

IMMUNITY BILL: A MISPLACED PRIORITY

Certainly, it is not a matter of conjecture to say that the undue interference and unpalatably flagrant disregard to separation of power by the executive tier of government has raised more questions than answers on the integrity of this government and the commitment of the leadership to truly push for the genuine change in line with democratic norms all over the world.   Fatunde Bamidele Samuel (VEGA) writes from lagos. Recently, the society was encapsulated with shocking news of pension bill for the National Assembly members. However, the bill was dead on arrival. This is nothing but another heinous attempt to permanently ground the country that is already suffering from the bloodsucking bedbugs (NASS) and former governors pensions. These are almost sucking the finances of this country dry; if and only if we could act fast to salvage it then we can only hope the existence of Nigeria will not be history. The recent exploit of the National Assembly is evi...
Post a Comment
Read more