$50b Ondo Refinery Investments: a strategic venture that will transform the economic landscape of the state - Ondo AG. ...says all agreements followed due process with verifiable partners*
The Attorney General and Commissioner for Justice, Ondo State, Dr. Kayode Ajulo said the $50b Refinery Investment in Ondo State would fast-track industrial development, attract more investors, create jobs and make the state one of the industrial hubs of the nation. The Attorney General explained that an international energy consortium has finalized a landmark $50 billion investment deal to build what will become Africa’s second-largest oil refinery in Ondo State, Nigeria under a Joint Venture investment. The arrangements followed the successful execution of the Memorandum of Understanding (MoU) between the Joint Venture and the state government through the Ondo State Investment Promotion Agency (ONDIPA). The over $50 billion Refinery is being established on about1,471-hectares of land at the sunshine free trade zone in Ilaje Local Government Area of Ondo state and expected to produce over 500,000 barrels of refined oil per-day. Speaking against the skepticism express...