MIDOil to construct 100,000bpd modular refinery in Lagos

The government chairman of MIDOil, Mrs Elizabeth-Omolara Akintonde, disclosed this recently during unveiling a three-in-one funding alternative.

In keeping with Akintonde, the will to ascertain a refinery was conceived over a decade ago with an official of the then Nigerian Nationwide Petroleum Company, Hajiya Amina Abdullahi.

 “As a marketer of refined petroleum merchandise since 1984, I have noticed the necessity of contributing to expanding our pricey nation, Nigeria, ” Hajiya Amina Abdullahi agreed. This started the current transfer to ascertain a modular refinery in Lagos State.

Akintonde stated the refining firm was registered on April 12, 2012.

The chairman of the MIDOil Refining and Petrochemicals Firm explained that a large expanse of land was acquired from the administration of former Governor Babatunde Fashola. He stated that the land allocation letter was obtained from the Lagos State Authorities on April 24, 2014.

 “Subsequently, on January 24, 2017, we accredited the licenses ascertained by the then Division of Petroleum Sources,” she remarked.

Talking about the delay in executing the challenge, Akintonde stated: “It has taken MIDOil 10 years to find safe buyers who can be prepared to spend money on Nigeria and in our challenge. However to the glory of God Almighty, we now have three consortiums of buyers prepared to take a position $5bn with us.

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 “The key causes of the delay have been the sourcing of the funding from abroad and the required licenses from Nigerian authorities’ companies, such as the Nigerian Upstream Petroleum Regulatory Fee, the Federal and State Ministries of Atmosphere, the state Ministry of Waterways, the Nigerian Navy, and the police.”

In keeping with Akintonde, July 12 has been scheduled for the groundbreaking of the proposed modular refinery.

She stated that she would additionally embrace the institution of MIDOil Filling Stations nationwide.

While presenting cheques to the host communities, Akintonde urged the Lagos State Authorities and group leaders to verify the excesses of land grabbers within the state.

She appealed to the federal government to teach conventional settlers to assist efforts by corporations to rework their communities for good, expressing concern over the spate of land grabbing within the communities the place where the refinery could be sited.

When completed, the 100,000 barrels per day refinery would be Lagos’s second refinery after the Dangote oil refinery.