mekaboy: [s]Well dangote has jst signed the loan he has started nothing yet, I am sure he will want to be sure of the political direction of the country before he proceeds.

He knows what politics is all about and the effect it has on business, he wld not be where he is today without politics.

And for those of you who cannot argue logically or know nothing about business management and project management, you are the ones quick to insult people.

I will suggest you go and read books or do research. If you argument is going to be based or region ethnicity or insults, then we r certainly not on the same level[/s].

Covenant Ground Refinery Project – OK Free Trade Zone

OK Free Trade Zone

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The OK Free Trade Zone (OKFTZ or the Zone) is a fully integrated state-of-the-art industrial zone. The OKFTZ provides access roads, general services, and utilities to companies. The Zone is less than 100 km from Lagos and is easily accessible by road, air, and water. The large sea front offers easy access to the deep sea port. The OKFTZ deep sea port acts as a gateway to and from Nigeria, serving as an alternative to the congested Port of Lagos.

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The OKFTZ provides a wide range of financial benefits including no taxes, levies, or duties. The foreign exchange regulations do not apply here and there is a 100% exemption of VAT and withholding taxes. Exemption from import and export taxes including construction materials is also part of the OKFTZ’s appeal. The tax benefits can represent a savings of up to 35% on a project resulting in a saving of more than 100 times the cost of the land.

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The OKFTZ is managed and developed by OKFTZ Enterprise, a Public-Private Partnership composed by Ondo and Ogun state and IPEM (International Port Engineering and Management). IPEM is a specialized European engineering and investment company, specializing in greenfield developments of port related infrastructure and Free Trade Zones.

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Covenant Ground Refinery Project – OK Free Trade Zone

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The Oil economy the world over is a capital intensive and technology driven business where only formidable, well focused, and properly motivated organizations can play a formidable role in the exploration or production of petroleum products. This role is what motivates Covenant Ground Group’s flag ship subsidiary Covenant Ground Refinery Limited. The company is organized to be among the first privately owned refineries to successfully plan, build and operate in Nigeria and is jointly owned by the Ondo State Government, which holds a marginal equity of 5%. Covenant Ground Refinery Limited is structured as a Hi-Tech Modular Integrated Crude Oil Refining Facility rated to operate at a full capacity of 150,000 barrels per day. The refinery is designed to produce multiple primary products which would include: Premium Motor Spirit (P.M.S), Automotive Gas Oil (A.G.O), Dual Purpose Kerosene (D.P.K) / Jet fuel (, (JP-A), LPG, Naphtha and Hydro-Heater.

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The facility would include a fertilizer – processing unit, producing Ammonia and Urea; and Asphalt. The proposed location for the Covenant Ground Group Refinery is in Olokola Free Trade Zone ,Olokola (OKFTZ) Ondo State, South West Nigeria on a 150 acre parcel of land within the oil and gas logistics base of OKFTZ .

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The Covenant Ground Refinery Ltd, refinery project is to be located in the OKFTZ. It is an essential project for Nigeria to help the economy produce fuel products internally and reduce the national deficit by reducing oil product imports. This low complexity, 25,000 BPD Nigerian crude project with 6,000 BPD gasoline reformer (expandable to 150,000 BPD with 36,000 BPD gasoline) will improve the supply requirements of Nigeria. The product slate consists of one grade of motor gasoline (regular unleaded MOGASRON 90), dual purpose kerosene (DPK)/Jet fuel, AGO diesel, and fuel oil (long residue). The guidelines for this project will be comparable to any similar worldwide project in the industry with regards to safety quality and environmental requirements.

nedu666: [s]the more u look the less u see. i have few questions

1. will the cable importing fuel give way to dangote

2. will govt subsidise dangote and neglect importers

i ask these questions because i dont think pausity of funds is why we dont have functional refineries rather it is vested interest and for dangote to succed he must be ready to fight these interests. which frankly speaking i dont see how he will pull that one.[/s]

nedu666: the more u look the less u see. i have few questions

1. will the cable importing fuel give way to dangote

2. will govt subsidise dangote and neglect importers

i ask these questions because i dont think pausity of funds is why we dont have functional refineries rather it is vested interest and for dangote to succed he must be ready to fight these interests. which frankly speaking i dont see how he will pull that one.

nedu666: the more u look the less u see. i have few questions

1. will the cable importing fuel give way to dangote

2. will govt subsidise dangote and neglect importers

i ask these questions because i dont think pausity of funds is why we dont have functional refineries rather it is vested interest and for dangote to succed he must be ready to fight these interests. which frankly speaking i dont see how he will pull that one.

nedu666: the more u look the less u see. i have few questions

1. will the cable importing fuel give way to dangote

2. will govt subsidise dangote and neglect importers

i ask these questions because i dont think pausity of funds is why we dont have functional refineries rather it is vested interest and for dangote to succed he must be ready to fight these interests. which frankly speaking i dont see how he will pull that one.

Rhino.5dm:


DANGOTE IS the No.1 CABAL. - QED (Solved within secs)

Rhino.5dm:


1- There is crude in ONDO state and LAGOS state #FACT

2 - India has more than 100 refineries without single drop of crude oil, yet.

3 - Die 7 times and 29 times, your region CAN'T and WIL NEVER attract 9 billion dollars investment.

4 - SOUTH WEST is the best of best.


SAI SOUTH WEST!!!

agbameta:


How dumb and clueless not to know. Dangote didn't become the richest African man by playing boyscout..

atlwireles:

We already attract billions yearly. Just ask shell and chevron. You will be quite surprised

Aigbofa:

We don't have refineries because the government is not good at running money making ventures. Eg: Nigeria Airways, Nigeria National shipping Line, Nigeria Railway Corporation, Ajaokuta Steel Mill, the list is endless. Why should they succeed in running refineries if they have never succeeded in running anything else?

atlwireles:

We already attract billions yearly. Just ask shell and chevron. You will be quite surprised

Rhino.5dm:


Which one is the WE? I hope you don't mean the fraudulent SS + SE, cos everybody dey answer him papa name - #TheEndTimeThings

nedu666: the more u look the less u see. i have few questions

1. will the cable importing fuel give way to dangote

2. will govt subsidise dangote and neglect importers

i ask these questions because i dont think pausity of funds is why we dont have functional refineries rather it is vested interest and for dangote to succed he must be ready to fight these interests. which frankly speaking i dont see how he will pull that one.

Rhino.5dm:


You know our brothers are only good at whining all night long or issuing worthless ultimatum. smh

atlwireles:

Urhobo wadoo, I speak for myself.

atlwireles:

Urhobo wadoo, I speak for myself.

agbameta:


Who is we? Abi shell and chevron don begin investing in kidnapping and other anti social vices?


Btw, the investments abi investors no get names?

Rhino.5dm:


Ose migwor . . .That bittered fella is from south east, you should know say I no mean south south. Haba habatically!! South South na baba na


Having worked on more than 10 billion dollars projects in south south within the last 7 years, I should know better

atlwireles:

You are smart enough to know, of the $9B, invested in Nigeria last year, how much went in to oil and gas

mekaboy:

The investment is a good one, and who knows maybe the subsidy will eventually be removed before the refinery is done. Now this investment is aimed at refining atleast 50% of crude oil gotten from the whole country to be able to break even and make profit.

In a case where things go wrong in 2015, and the niger delta oil supply is no more, this refinery will have to start drilling for oil in lagos and ondo, laying pipes for distribution which will take more time and money.

Now oil in lagos and ondo alone will be less than 5% of Nigeria's oil, this means that the over $9b investment will operate at 5% capacity, and might not recover the capital in 200years to come.

agbameta:


Abeg no dey bother me with general platitudes, na name of the investments and investors I ask for..

atlwireles:

At least you acknowledge working on $10B projects in the southsouth. You have made my case. Thanks again.

atlwireles:

No need wasting time. There are no investments, no wahala.

agbameta:


Ondo produces 800,000 barrels of oil per day and Dangote needs just about half of that to stay in business....

He sited his business in Ondo state for a reason


Try harder with your doomsday nonsense..

agbameta:



Thanks for letting me know you are a lair and that you are full of shittt

agbameta:


Ondo produces 800,000 barrels of oil per day and Dangote needs just about half of that to stay in business....

He sited his business in Ondo state for a reason


Try harder with your doomsday nonsense..

agbameta:


Ondo produces 800,000 barrels of oil per day and Dangote needs just about half of that to stay in business....

He sited his business in Ondo state for a reason


Try harder with your doomsday nonsense..

Rhino.5dm:


. . .But bros I mean collectively oooo. no single project wey reach 9 billion dollars wey I know ooooooooooo.May be you can helep me out small.

atlwireles:
[s]
Whoa, whoa, Nigeria produces 2.4 million barrels per day. So Ondo produces 33% of Nigeria'S crude, yet collect less than Edo from the derivation fund OMO UNA TOO MUCH. Do you just pull this crap from planet pluto or what[/s]

According to the people, Ondo State currently produces over 20 per cent of the total oil production in the country, citing the recent statistics which shows that the various oil companies operating in the state produce over 800,000 barrels of oil per day.

http://nationalmirroronline.net/new/scrap-niger-delta-ministry-ondo-oil-communities-tell-fg/