NACCIMA hails Obaseki for reforms to transform Edo into Nigeria's petrochemical hub


...says Obaseki driving industrialization with two operational modular refineries, others

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Kelvin Oye Esq., has lauded the Edo State Governor, Mr. Godwin Obaseki for his administration's progressive economic reforms which have transformed the State into Nigeria’s petrochemical hub with two operational modular refineries.

The two modular refineries in the state have continued to wax strong, with both now having a standing order of 300,000 barrels of crude from the Oza oil field.

Decklar Resources Inc and its co-venturer Millenium Oil & Gas Company Limited, which operate the Oza oil field, confirmed that aside from the 200,000 barrels of crude ordered by the Edo Refinery and Petrochemical Company Limited, Duport Midstream Company Limited has placed an order of 100,000 barrels of crude from the field. The products from the modular refineries in Edo State include diesel, low-pour fuel, and naphtha.

In a statement on Monday, the NACCIMA boss said Edo State has also been experiencing an influx of investments into various sectors of the State’s economy, which is a testament to the favourable business environment created by Governor Obaseki.

Oye said, “The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has lauded the progressive economic reforms introduced by Governor Godwin Obaseki of Edo State. The initiatives aimed at transforming the state into a petrochemical hub have yielded positive results, with the two modular refineries in the state making standing orders of 300,000 barrels of crude from the Oza oil field. This is in addition to the 100,000 barrels ordered by Duport Midstream Company Limited.

“The products from these modular refineries include diesel, low-pour fuel, and naphtha, which provide an avenue for revenue generation for the state.”

In a statement by the Chief Executive Officer of Decklar Resources, Sanmi Fumuyide, he disclosed that trucking of crude oil from the Oza Oil Field to the Edo Refinery and Petrochemicals Company Limited facility has reached a cumulative volume of over 55,000 bbls.

This is in line with Governor Obaseki's promise to drive economic growth in the state through his industrialisation policy.”

He noted, “Furthermore, Edo State has also been experiencing an influx of investments into various sectors of the economy, which is a testament to the favourable business environment created by Governor Obaseki. The governor's efforts towards improving infrastructure, such as the road networks, have also attracted private sector participation in the state.”

Oye added, “NACCIMA commends Governor Godwin Obaseki for his people-oriented and innovative policies that have resulted in a surge of economic growth in Edo State. The association urges other state governors to emulate the positive strides of Governor Obaseki and implement policies that will create an enabling environment for businesses to thrive.”