Jonathan praises progress on Bayelsa refinery project after visit
Former Nigerian president Goodluck Jonathan has praised progress on the privately funded Azikel Refinery in Yenagoa, Bayelsa State. He described the project as a potential industrial hub for the Niger Delta, while the refinery’s stated design capacity is 25,000 barrels per day with plans for future expansion.
Former President Goodluck Jonathan has praised progress on the construction of the Azikel Refinery in Yenagoa, Bayelsa State, after visiting the privately funded project. Jonathan said the refinery could become a centre of industrialisation for the Niger Delta and Nigeria’s South-South region. In a statement published on his official Facebook page, he said he had seen the progress of the project first-hand and commended its scale and strategic importance.
The refinery is designed to produce a range of petroleum products, including petrol, diesel, aviation fuel, kerosene and liquefied petroleum gas. Its current stated processing capacity is 25,000 barrels per day. Jonathan said the project could support domestic refining, energy security, industrial development and economic diversification.
He also praised Azikel Group president Eruani Azibapu for his investment and commitment to private-sector industrial development in the Niger Delta. According to information supplied by the company in August, the refinery was originally licensed in 2015. Subsequent value engineering and redesign increased its planned capacity to 25,000 barrels per day and raised the total investment to about $1bn.
The project is a full-slate hydro-skimming refinery, with a future plan to expand capacity to 125,000 barrels per day. The supplied material says it is intended to create employment and help transform Bayelsa into an industrial hub. Jonathan also credited the Africa Finance Corporation and the African Export-Import Bank with providing financial and institutional support.
He said projects such as Azikel and the Dangote Refinery could help Nigeria move beyond crude production towards refining, manufacturing and wider value addition.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.