PPP: Petrolex Set To Begin Operations In Ogun, Targets 1,000 Jobs - THE DAILY CRUCIBLE

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Wednesday, December 22, 2021

PPP: Petrolex Set To Begin Operations In Ogun, Targets 1,000 Jobs




The Daily Crucible | Wednesday, December 22, 2021

Petrolex, a private oil and gas company,
is set to begin operations in Ogun State in the next five weeks.

This followed the Public Private Partnership policy of the Ogun State Government.

The Daily Crucible recalls that Petrolex Group was inaugurated on December 12, 2017 with the first leg of its Mega Oil City at Ibefun, Ogun State. The - multimillion - dollar project is meant to decongest Apapa, the Nigeria's epicentre of gridlock in the country and cater for about 60 percent of local market needs of petroleum products.

Petrolex Mega Oil City is an investment valued at over $330million dollars recently. The tank farm in the facility has the capacity to turnover 600,000million litres of petroleum products monthly and is expected to also transform petroleum products storage and distribution in Nigeria.

It boasts of 30 loading gantries, residential quarters, ultramodern health centre and a 4000-truck capacity trailer park with accommodation for drivers even as it has potential to morph  into the largest petrochemical industrial business empire in the sub-Saharan Africa, according to industry watchers.

The facility also harbours a 250,000bpd capacity refinery, a gas processing plant, a lube plant and other feedstock industries such as fertiliser plants  - all with potential to create over 10,000 direct and indirect jobs and will ultimately have far reaching multiplier impacts on million lives.

The man behind Petrolex Oil and Gas,  Segun Adebutu, did express the optimism while talking to newsmen during one of the Ogun State Investors Forum held in Abeokuta years back that his firm would inject about $5 billion into the economy of  Ogun state.

As a commitment to this resolve, Segun Adebutu who is the Chief Executive Officer of the company, visited governor Dapo Abiodun in his Oke Mosan Governor's Office on Wednesday 

Fielding questions from newsmen after a meeting with the govetnor, Adebutu, said the project would expand the economy base of the state.

He disclosed that no fewer than 300 people have already been employed, while over 1,000 others would be engaged when the company begins full operation.

"We came to discuss with the governor about our project at Ibafo in Obafemi-Owode Local Government Area, an oil and gas project. It has been a long journey and I am happy that it is finally coming into being active in the next few weeks.

"It started in 2017 and it will go into full operation in the third week of January 2022. Already, we have employed about 300 and by the end of January, over 1000 people will be working there. 

"As you know, the governor has oil and gas background. He understands what I am here to do and this makes my discussion with him easy and fruitful", Adebutu explained.

He, however, commended the governor for carrying out developmental projects, especially the road infrastructure, which according to him remained one of the basic infrastructure needed to drive investment in any society.

"I have seen a lot of projects in the state and I am particularly happy for the one that leads to my project site. If the projects continue in this fashion, I think Ogun State will be in a better position before the end of the governor's tenure", Adebutu submitted.

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