Olusegun Obasanjo, former President of Nigeria, has hailed what he described as the extraordinary vision of Azibapu Eruani, President of Azikel Group, in establishing the Azikel Refinery.
The Azikel Refinery is located at Obunagha community in Yenagoa Local Government Area of Bayelsa State and Obasanjo said Eruani also exhibited entrepreneurial courage while deploying monumental investment in the development of the $1.0 billion refinery.
Speaking while performing the symbolic erection of the Crude Distillation Unit (CDU) of the refinery on Monday, the former president also commended the financial partnership offered by African Export-Import Bank (AfreximBank) and African Finance Corporation (AFC) for the development of the refinery.
The symbolic erection of the refinery’s Crude Distillation Unit (CDU), marking a significant milestone towards completion of the petroleum refining project.
Obasanjo expressed satisfaction with the transformation of the refinery site since his earlier visit eight years ago, when he laid the foundation for the industrial development.
He applauded Eruani’s determination and commitment to indigenous petroleum refining investment.
The Azikel Refinery is being developed as a full-scale petroleum refinery designed to produce Premium Motor Spirit (PMS), commonly known as petrol, Automotive Gas Oil (AGO) or diesel, and other refined petroleum products.
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The Azikel Refinery is Nigeria’s second-largest private full-scale refinery with an expected production output of 2.5 million litres of petrol daily and 2.0 million litres of diesel daily.
Obasanjo also commended the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) for their financial support towards development of the refinery, and urged both institutions to sustain their commitment through successful completion.
He emphasised continued cooperation among the project sponsors, financiers, engineers and contractors to bring the refinery into operation.
Obasanjo also encouraged Eruani to accelerate the refinery’s completion and expressed optimism about the prospects for future expansion.
He said: “I have told Dr. Eruani that I will be officially 90 years by next year March. It means I will take the boarding pass soon. So, he has to make sure the project is completed before I exit.
“Governor, I want to thank you most sincerely. Every time Dr. Eruani has spoken to me about this project, he has mentioned the critical role you have been playing and that is the way to go.
“You are right that the states and oil producing communities have not got a fair deal so far. Thirteen per cent is the beginning. You can continue to talk. The most important thing is that even the little you have received, you have used it well.
“I want to express appreciation to those who have given the technical and engineering suppprt for this project. When I came here (eight years ago), there was nothing like this, but now it has become a different thing.
“I want also to thank those two financial institutions, African Finanace Corporation and the AfreximBank. My challenge to you Dr. Eruani is to ensure that the refinery is completed within the next 12 months. With this done, you can even double the capacity.”
His remarks highlighted the role of African financial institutions in supporting indigenous industrial enterprises, strengthening productive capacity and creating economic opportunities.
On his part, Douye Diri, Governor of Bayelsà State, commended Eruani and Azikel Group for the massive $1.0 billion refinery investment, describing the development as an industrial revolution for Bayelsa State, the Niger Delta and the wider South-South region of Nigeria.
Governor Diri noted that the refinery represents a shift from reliance on crude oil extraction towards local processing, value addition and industrial participation.
He recognised the potential for employment, technical skills development and economic diversification, and encouraged Bayelsa youths to prepare for emerging opportunities.
In his welcome address, Azibapu Eruani, President of the Azikel Group, expressed appreciation to Obasanjo for returning to the refinery site eight years after participating in its foundation-laying ceremony to mark its completion phase.
Eruani said the project was conceived to help transform the Niger Delta from a region primarily associated with crude oil production and exportation into a centre of petroleum refining and industrial value creation.
He reaffirmed Azikel Group’s commitment to completing the refinery and thanked President Bola Tinubu for his steadfast commitment to strengthening Nigeria Energy Security and supporting the Azikel Refinery.
Eruani also thanked Governor Diri, the Bayelsa State Government, AfreximBank, AFC, technical partners, contractors and engineering teams for their contributions.
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