Obaseki Seeks Investors to Build More Refineries in Edo

•State begins payment of arrears owed local council pensioners

Edo State Governor, Mr. Godwin Obaseki, has said the government was providing the right incentives and guaranteeing a safe and conducive environment to ensure the influx of investors to boost the state’s economy and sustain the government’s industrialisation drive.

Obaseki said this when he inspected the Edo Refinery in Ologbo, Ikpoba Okha Local Government Area of the state.

The refinery which is operating at 80 percent production capacity is the first of two refinery projects in the state, alongside the Duport Refinery, which is operated by Duport Midstream Company Limited.

The two modular refineries were attracted into the state on the back of nuanced reforms by the Governor Godwin Obaseki-led administration to boost investment inflow and drive industrialisation in the state.

The combined capacity of the two refineries positions Edo State as a major hub for petrochemicals in the country, as the construction projects create job opportunities and build local capacity for projects in the oil and gas industry.

Speaking during the inspection, the governor said the refinery was already oversubscribed, noting that the government was encouraging more investors to take advantage of its gas assets to build more refineries in the state.

Obaseki said the government was partnering with the private sector, ensuring a business-friendly environment to drive investments into the state and boost its economy.

During the 2022 Alaghodaro Summit, Obaseki had disclosed that the government was in talks with private investors to finalise agreements and pre-work for the development of two condensate refineries in the state.

Edo State, under the administration of Obaseki, was being repositioned to become Nigeria’s leading industrial hub, pushing for investments in industrial and processing industries. In the last six years, the state has attracted close to $2 billion worth of investment across agriculture, energy, food processing, light manufacturing, forestry and technology sectors.

With the rise in electricity wattage in the state, it is fast becoming a new haven for businesses seeking stable electricity to expand their businesses, especially as it boasts the largest onshore gas resources in Nigeria.

Meanwhile, Edo State Government has commenced the payment of pension arrears owed retired Local Government workers between 1984 and 2021.

In a statement, Edo State Commissioner for Local Government Affairs, Monday Osaigbovo, said the payment would be in batches.

He said the payment was in furtherance of the Obaseki-led administration’s commitment to the welfare of workers and retirees in the state.

Osaigbovo noted, “In line with the government promise in our earlier letter dated 20th January 2023 (LGSPB/469/T1/91), the Local Government Staff Pensions Board has started the payment in batches of the huge pension arrears owed to her retired Local Government workers in the state between 1984 and 2021.”

The government’s commitment to the retirees is in line with the ongoing revamp of the state’s civil and public service, engendering responsive and technology-driven service delivery and governance models, thereby impacting greatly on the lives and productivity of the state’s public workers.