The management of the multi-million naira Edo Modular Refinery and Petrochemicals Limited says the project is 99 per cent completed and will commence operations by the end of September.
Mr Segun Okeni, Head, Quality, Health and Safety/ Community Relations of the company, disclosed this on Tuesday during an inspection tour of the site at Ologbo, Ikpoba-okha Local Government Area, by members of the Edo House of Assembly.
Okeni said that the refinery would have the capacity to refine 60,000 of crude oil barrels per day (bpd) in future.
He said the first phase of the project would target 1,000 bpd, second phase would produce 6,000 bpd, while the production would increase to 60,000 bpd in the long run.
He explained that the refinery would target the production of four products, which included diesel, fuel oil, Naptha and gas to power the plant.
Okeni said that crude oil would be sourced from the facility of the Nigeria Petroleum Development Company (NPDC), few kilometres away from the refinery.
“In the long run, we will need another set of equipment for us to produce Premium Motor Spirit (PMS).
“The Naptha is equivalent to petrol. It is just to upgrade it to petrol. From the Naptha, which we will be exporting, a lot of foreign exchange will be attracted to the state.
“About 55 licences were granted to different investors to build modular refineries in the last couple of years in Nigeria.
“As of today, only five refineries are on site and some projects have been completed.
“But it will interest you to know that Edo refinery is the fastest. We got licence in 2018 and we laid the foundation in October 2019. In less than a year, we are ready to begin operation.
“We have directly employed more than 300 people, majority of whom are from the host communities in Edo,” he said.
Earlier, Speaker of Edo House of Assembly, Francis Okiye, commended the state government for the investment, adding that it would benefit the people of Edo.
Okiye said: “We are here as part of our oversight functions to ensure that the money appropriated is judiciously used.
“As part of the stimulus to encourage investment, the governor committed N700 million to the company. There is already employment and there will be chains of benefits that will be coming from here.
“As legislators, we are satisfied with what we have seen here today. The investment here is apt and it will be beneficial to the state.”