Former President Olusegun Obasanjo has commended Azikel Group President, Dr Eruani Azibapu, for his vision and investment in the $1 billion Azikel Refinery in Bayelsa State, as the project reached a significant construction milestone with the symbolic erection of its Crude Distillation Unit (CDU).
Obasanjo gave the commendation during a visit to the refinery site at Obunagha, Yenagoa Local Government Area, where he performed the symbolic erection of the CDU. He also praised the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) for their financial partnership in developing the project.
Key Highlights
- Obasanjo commends Eruani Azibapu for investing $1 billion in the Azikel Refinery.
- The former president performs the symbolic erection of the refinery’s Crude Distillation Unit.
- Afreximbank and Africa Finance Corporation receive praise for supporting the project financially.
- Bayelsa Governor Douye Diri describes the refinery investment as an industrial revolution for the state and the Niger Delta.
- The refinery is designed to produce petrol, diesel and other refined petroleum products.
- The project is expected to support job creation, local refining and economic diversification when completed and operational.
Obasanjo Praises Eruani’s Indigenous Refining Investment
Obasanjo expressed satisfaction with the transformation of the refinery site since his previous visit eight years ago, when he laid the foundation for the industrial project.
He praised Eruani for his determination and commitment to developing indigenous petroleum refining capacity in Nigeria, describing the investment as a significant contribution to the country’s industrial development.
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.
According to information provided by the project promoters, the refinery is designed to produce 2.5 million litres of petrol and two million litres of diesel daily. These figures represent stated production targets and are subject to confirmation as the project approaches completion and commissioning.
Obasanjo also urged the project sponsors, financiers, engineers and contractors to sustain their cooperation to ensure the refinery is completed and begins operations.
He expressed optimism about the project’s prospects and encouraged Eruani to accelerate work towards completion while considering future expansion.
Obasanjo Commends Afreximbank, AFC for Financial Support
The former president specifically commended Afreximbank and AFC for their financial partnership in the development of the $1 billion refinery.
He stressed the importance of continued support from African financial institutions for major indigenous industrial projects capable of expanding local productive capacity and creating economic opportunities.
The financial backing of the two institutions is expected to help advance the refinery project as its promoters work towards completion.
The development also highlights the role of African financing institutions in supporting investments aimed at reducing dependence on imported refined petroleum products and strengthening domestic industrial capacity.
Diri Describes Azikel Refinery as Industrial Revolution for Bayelsa
Bayelsa State Governor, Senator Douye Diri, also commended Eruani and Azikel Group for the $1 billion investment, describing the project as an industrial revolution for Bayelsa State, the Niger Delta and the wider South-South region.
Diri said the refinery represented an opportunity to move beyond crude oil extraction towards local processing, value addition and broader industrial participation.
He highlighted the project’s potential to generate employment, develop technical skills and diversify the state’s economy.
The governor also encouraged Bayelsa youths to prepare for employment and business opportunities that could emerge from the refinery and its supporting industries.
When operational, the facility is expected to support activities across engineering, logistics, transportation, maintenance and other industrial services.
Crude Distillation Unit Marks Key Construction Milestone
The symbolic erection of the Crude Distillation Unit marked a significant stage in the refinery’s construction.
The CDU is a core component of a conventional petroleum refinery. It separates crude oil into different fractions, which can then undergo further processing to produce marketable petroleum products.
Its installation is therefore an important part of developing the infrastructure required for refining crude oil into petrol, diesel and other products.
The ceremony brought together government officials, traditional rulers, financial institutions, industry stakeholders, technical partners and representatives of host communities.
Read also:
- Azikel Refinery Begins Crude Distillation Unit Installation in Bayelsa, Nears Final Construction Phase
- Nigeria Lacks Enough Crude Oil to Fully Supply Dangote Refinery, Says Oyedele
- Gov. Diri counts blessings of Azikel refinery to Bayelsa
Eruani Reaffirms Commitment to Completing Azikel Refinery
In his welcome address, Eruani expressed appreciation to Obasanjo for returning to the refinery site eight years after participating in its foundation-laying ceremony.
He said the project was conceived to help transform the Niger Delta from a region largely associated with crude oil production and export into a centre for petroleum refining and industrial value creation.
Eruani reaffirmed Azikel Group’s commitment to completing the refinery and acknowledged the contributions of President Bola Ahmed Tinubu, Governor Diri, the Bayelsa State Government, Afreximbank, AFC, technical partners, contractors and engineering teams.
He also thanked Tinubu for what he described as his commitment to strengthening Nigeria’s energy security and supporting the refinery project.
Stakeholders Express Confidence in Project’s Economic Benefits
Also speaking at the ceremony, Azikel Petroleum board member, Dr Daru Owei, and the Chairman of the Bayelsa State Council of Traditional Rulers, King Bubaraye Dakolo, commended Eruani for the investment.
They expressed confidence in the refinery’s potential to stimulate economic activity and create opportunities for the host communities and the wider region.
The project is expected to contribute to Nigeria’s domestic refining capacity, improve the availability of locally refined petroleum products and support economic diversification when completed and operational.
Its broader impact will depend on the successful completion of construction, the commencement of operations and the refinery’s ability to meet its stated production targets.
The symbolic CDU erection has drawn renewed attention to the project’s national significance and Azikel Group’s ambition to advance indigenous industrial development in Bayelsa State, the Niger Delta and Nigeria’s petroleum sector.
For more Niger Delta and energy news, follow us on X.
