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Petrolex Mega Oil City To Ease Apapa Gridlock By 60% - Business - Nairaland

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Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by freakyamanda(f): 8:50pm On Dec 08, 2017
Apapa is home to two of Nigeria’s busiest seaports, several tank farms and a number of big companies. Business activities in the area are a big component of Nigeria’s economy, however, despite its importance, the deplorable condition of Apapa—caused overtime by the failure of government to expand infrastructure development in line with growing population—has been a source of nightmare to port operators, commuters, motorists and the public.

Petrolex Group, a leading energy conglomerate in Nigeria has begun a move to drastically reduce the traffic gridlock at Apapa, which has been a source of anxiety to various stakeholders.

On December 12, 2017, Petrolex Group will commission the first phase of its Mega Oil City at Ibefun, Ogun State. The project worth millions of dollars, will not only decongest Apapa by as much as 60 percent, but also break record as the first of its kind in sub-Saharan Africa’s energy landscape.

Petrolex Mega Oil City is a legacy investment currently valued at over $330million dollars by PwC. The tank farm in the Oil City has the capacity to turnover 600 million litres of petroleum products every month, and will transform petroleum products storage and distribution in Nigeria, by catering for about 60 percent of in-country need.

“As a solutions-driven company, we are positioned to drive increased efficiency and consistent value creation across the West African downstream oil and gas value chain through our strategic investments and the delivery of superior quality products and services. Working with our diverse stakeholders, the successful completion of the first phase of our mega oil city in Ibefun, Ogun State, Nigeria demonstrates our disciplined approach to project management and signposts our ability to execute large-scale energy development projects that will move the region forward,” said Segun Adebutu, Chairman/CEO of Petrolex Oil and Gas Limited, during a media tour to the site.

The Mega Oil City has 30 loading gantries, residential quarters, ultramodern health centre and a 4000-truck capacity trailer park with accommodation for drivers. Upon completion in the next couple of years, it will completely transform into the largest petrochemical industrial estate in the whole of sub-Saharan Africa, as home to a 250,000bpd capacity refinery, a gas processing plant, a lube plant and other feedstock industries such as fertiliser plants.

The Oil City will create over 10,000 new jobs, impact over 2 million lives, improve distribution of petroleum products by over 500 percent, improve efficient delivery of products to retail markets and eliminate over 2000 tankers from Apapa road.

Petrolex Oil City’s impact on Apapa will be achieved because of its strategic location. The City is easily accessible by land and waterways. There is access to the Atlantic Ocean and products can be easily shipped in and out through fleets of specially designed barges sailing through the river on the site. So far, Petrolex has procured 10 barges, 2 tugboats and a daughter vessel. The company is also expecting additional 6 barges and 6 tugboats to strengthen its diversified approach to product distribution.

Adebutu said, “I lived in Apapa, I had to pack out one day when there was a gas build-up in one of barges and it exploded and shattered glass in my house. I grew up where there were palm trees and we could ride our bicycles about and within the space of a decade, we spend one and half hours to even get out of Apapa. The infrastructure in Apapa was for a residential and partly commercial area, not for the traffic it is facing now”. Adebutu said the congestion and attendant distribution problems requires immediate solution.

According to reports, social and economic activities in the axis generate close to N140billion weekly for Nigeria and accounts for about 80 percent of imports and exports in the country.

The situation became worse in May this year, when contractors from Flour Mills, Dangote Group and the Nigerian Ports Authority commenced a rehabilitation project that necessitated closing a part of the road.

Media investigations have shown that port users spend as much as 10 days going in and out of the port to evacuate their cargoes, a process that should take 24 hours or less. Also, commuters who work around the axis have recounted the hellish time they spend on the road, at times, having to turn back without getting to work.

The chairman of Apapa local government council, Owolabi Adele, said at a stakeholders meeting in August 2017, that as a result of the traffic gridlock at Apapa, more than 82 companies have relocated, leading to huge economic losses for Lagos State and the country at large.

The Petrolex Mega Oil City will no doubt be a complete gamechanger, with huge impact on Nigeria’s economy. Petrolex is not just building an alternative, it is creating ‘a new world of endless possibilities’. Petrolex is changing the narrative of Nigeria’s underperforming energy sector with industry defining assets along the entire value chain.
http://www.todaysecho.com/petrolex-mega-oil-city-ease-apapa-gridlock-60/

7 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by tolumizzy(m): 7:20am On Dec 09, 2017
Ok
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by kolafolabi(m): 7:21am On Dec 09, 2017
The story better be true... Thanks to Petrolex Group.

4 Likes 1 Share

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by 9iceDaniel: 7:23am On Dec 09, 2017
hmm
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Khodorkovsky(m): 7:23am On Dec 09, 2017
thank GOD.
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by olumaxi(m): 7:23am On Dec 09, 2017
Just wasted my time and mb reading dis story

1 Like

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by censeakay(m): 7:24am On Dec 09, 2017
Ogun will keep developing

30 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by bobaydavid(m): 7:24am On Dec 09, 2017
Be as you wish to seem
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Worldbest281: 7:25am On Dec 09, 2017
OK
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Standard92: 7:25am On Dec 09, 2017
Mogbo Ooo
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by MrEdimulo82(m): 7:25am On Dec 09, 2017
Heard abt ds project and it sound promising...I hope no politic stops it.

6 Likes 1 Share

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Revolva(m): 7:28am On Dec 09, 2017
better be true....ooo

if not na faya go burn dem d type wey de burn from oil tank
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by deco22(m): 7:29am On Dec 09, 2017
Until they finish it,i can't comment..

Politics will ultimately slow it down to a halt...2019 is at the corner.
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by kay29000(m): 7:29am On Dec 09, 2017
Where in Ogun state is Ibefun? Does anyone know?
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by FlyoruB: 7:29am On Dec 09, 2017
More pix from the site.

14 Likes 1 Share

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by NCP: 7:30am On Dec 09, 2017
Ogun again, SW? What's happening to private investments in other regions?

11 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by bobnatlo(m): 7:31am On Dec 09, 2017
Good one
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by kstyle2(m): 7:32am On Dec 09, 2017
This project will create over 10,000 jobs as well as solving 60% of the country's need. If this statement is true, then it's a welcome development.

13 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by jcflex(m): 7:32am On Dec 09, 2017
They should leave story.
most important thing is when are they recruiting

7 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by DaudaAbu(m): 7:33am On Dec 09, 2017
So what is innovative here?

Are they hoping that the country will continue to import petroleum product

I thought they should be building refinery. Abi na dangote product they want to be stocking

1 Like

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Chukazu: 7:34am On Dec 09, 2017
Good job... good jobs
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Nobody: 7:34am On Dec 09, 2017
Ogun state keeps moving.. Our south people keep been useless... God HV mercy

2 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by FlyoruB: 7:35am On Dec 09, 2017
NCP:
Ogun again, SW? What's happening to private investments in other regions?

Na turn by turn. Na Ogun turn at the moment. Strategically speaking in the SW, Ogun is better positioned and located to attract these sort of investments than other SW states for now. That's just the truth.

21 Likes 1 Share

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Blue3k(m): 7:35am On Dec 09, 2017
NCP:
Ogun again, SW? What's happening to private investments in other regions?

You mean the place where militants are promising to blowup pipelines and kill? I wonder why as well. Anyway investment goes but like I said before dumb antics in SS chases investors away.

18 Likes 5 Shares

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by daslad(f): 7:36am On Dec 09, 2017
What a welcome development if achieved!

1 Like

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by pol23: 7:37am On Dec 09, 2017
This news is just a hype.
The total worth of the Tank Farm is $330M.
How possible can this cut the Apapa congestion by 60%?.
It's not near being real...Sure they'll reduce the Traffic, many of the suppliers will prefer to buy from them, when you consider their location,you don't need to enter Lagos and Face traffic or having to que for days at the port.
But talking about the availability of the product and their Capacity,they can't serve 20% of the suppliers.
Their Proposed output is 600M litter monthly and Nigeria runs on over 40M litter daily...that's over 1.6B litter monthly.
It's a welcome Development,but The Lagos traffic will still be there.

4 Likes 2 Shares

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by xtianh(m): 7:38am On Dec 09, 2017
Good times are here
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by Zico5(m): 7:38am On Dec 09, 2017
Haters have come. South West will keep improving, nothing anyone can do about that. We are the best Omo Yoruba.

4 Likes

Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by anibirelawal(m): 7:40am On Dec 09, 2017
cheesy
Petrolex mega oil city to ease the Apapa gridlock by 60 percent.
Re: Petrolex Mega Oil City To Ease Apapa Gridlock By 60% by BruncleZuma: 7:41am On Dec 09, 2017
grin

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