…As Prof Osinbajo Commissions the Landmark Project.
It was an event built to make history. And it did. Time stood still as over 2000 dignitaries and guests witnessed the historical moment on Tuesday, December 12, 2017, as the Vice President of Nigeria, Professor Yemi Osinbajo SAN, GCON, commissioned the first phase (300 million litres capacity) of Petrolex Mega Oil City, the largest petrol tank farm in Nigeria and Sub-Sahara Africa.
The epoch making event took place at the premises of the petrol tank industry, Ibefun-Ijebu, Odogbolu LG, Ogun State.
The multi-billion naira mega oil city is owned by Mr Segun Adebutu, the son of the billionaire business mongul and foremost philanthropist, Sir Kesington Adebutu CON. He is also the immediate younger brother of Hon (Dr) Ladi Adebutu, Chairman, House Committee on Rural Development.
Prof Yemi Osibajo commended Mr Adebutu for his vision which he posited was in tandem with the Federal Government’s agenda to reduce the importation of petrol to 20% by 2019.
The Vice President emphasised the significance of the private sector initiative as key to achieving sustainable national economic growth and creating millions of jobs for the youth. He assured willing investors of the government’s resolve to partner with them by providing not only enabling environment but incentives regime that would drive investment.
The Minister of State for Petroleum Resources, Mr Ibe Kachukwu and Group Managing Director of NNPC, Dr Mainakanti Baru, corroborated the Vice President’s stance saying that the wonderful project was a confirmation of the ingenuity and creativity of Nigerians.
On his own part, Sir Kesington Adebutu, could not hide his joy for witnessing his son making history in the energy landscape of Africa. While noting that the mega oil city, with the capability of creating in excess of 10,000 direct and indirect jobs, was one with great future possibilities, Sir Adebutu called for support to improve the lot of humanity and communities at large.
Expressing his confidence in the ability of the private sector to take Nigeria to the summit of economic development, the former President of Nigeria, Chief Olusegun Obasanjo GCFR, said that for that to come to effect, the FG must come to the aid of investors through favourable policy climate.
The Liken of Ibefun, HRM Oba Gideon Adetoye, was particularly delighted with the citing of the mega project in his domain. He praised the visioneer and called on other investors to consider Ibefun as their destination of choice where they could set up their businesses.
In his welcome address, the Chairman and Chief Executive Officer, Petrolex Oil & Gas, Mr Segun Adebutu, said that from his research, he discovered Nigeria was losing over N20bn daily revenue due to gridlock on Apapa and such, considered it expedient to think out of the box. He said that his desire to be part of the growth of the nation and to bring comfort to humanity necessitated the mega oil city project vision which, as he put it, would engender the redistribution of the supply and distribution of petroleum products in Nigeria and drastically reduce by 70% the traffic gridlock at Apapa, Lagos.
Segun further hinted that a mega refinery, fertilizer plant, lubricant facility gas plant and planned construction of 350 gasoline stations among others throughout the nation would also berth soon.
Occupying a land mass of 13,000 acres, the world class petrol tank farm with 1.2 billion capacity is equipped with an impressive array of technologically advanced facilities in line with global safety standards. These include 30 loading gentries, residential quarters, tarred roads, army barracks, naval base, staff quarters and automated 4,000-truck capacity trailer park with drivers quarters.
Credit: Prince Deji Babington-Ashaye
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