Petrolex Group, a Nigerian Oil Firm has entered into a consortium with Wema Bank and the government of Ogun to build the second largest refinery and the largest depot in Odogbolu area of the state.

The Chairman of the group, Mr Segun Adebutu,in a statement said that other members of the consortium are Hyundai and Ajayi Legal Partner.

He said that the depot would be the largest in sub-Saharan Africa.

Adebutu said the two projects would generate about 2,000 jobs and boost the socio-economic condition of the host state.

Mr Henry Alakhume, Head of Corporate Banking at Wema Bank, said the bank was delighted and proud to support the projects. “We believe this will significantly boost Nigeria’s economy and create much needed jobs,” he said.

Gov.  Ibikunle Amosun of Ogun assured Wema Bank and members of the consortium of his administration’s commitment to fully support the project.

“We have the political will and we will support the project fully. You can be rest assured that I will get involved, when necessary, in order to ensure that the project is a success,” Amosun said at a ceremony at the Oke Mosan seat of government in Abeokuta on the 28th of September.

This no doubt will be a relief and consolation to the Ogun State government, which was believed to have lost out to neighbouring Lagos State in the Dangote largest refinery project due to a misunderstanding with the investor.

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