Obasanjo Hails Eruani’s Extraordinary Vision on $1bn Azikel Refinery

Former President Olusegun Obasanjo has commended the President of Azikel Group, Dr. Eruani Azibapu, for his extraordinary vision, entrepreneurial courage and monumental investment in the development of the $1 billion Azikel Refinery in Bayelsa State.

Obasanjo gave the commendation on Monday during a historic visit to the Azikel Refinery at Obunagha, Yenagoa Local Government Area, where he performed the symbolic erection of the refinery’s Crude Distillation Unit (CDU), marking a significant milestone towards the completion of the petroleum refining project.

The former President expressed satisfaction with the transformation of the refinery site since his earlier visit eight years ago, when he laid the foundation for the industrial development. He applauded Dr. Eruani’s determination and commitment to indigenous petroleum refining investment.

Obasanjo said, “I have told Dr Eruani that I will be officially 90 years old by next March. It means I will take the boarding pass soon. So, he has to make sure the project is completed before I exit”.

He also challenged the Azikel Group President to ensure the refinery is completed within the next 12 months, adding that with this done, the capacity could even be doubled.

The former President commended the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) for their financial support towards the development of the refinery, and urged both institutions to sustain their commitment through its successful completion.

Obasanjo also lauded Bayelsa State Governor, Senator Douye Diri, for supporting the project, saying whenever Eruani spoke to him about it, he always mentioned the governor’s critical contribution.

Addressing the governor, Obasanjo said, “You are right that the states and oil-producing communities have not got a fair deal so far. Thirteen per cent is the beginning. You can continue to talk. The most important thing is that even the little you have received, you have used it well”.

In his welcome address, Dr. Eruani Azibapu 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 primarily associated with crude oil production and exportation into a centre of petroleum refining and industrial value creation.

Eruani said the refinery will kickstart Bayelsa’s and the Niger Delta region’s industrialisation, describing the installation of the CDU as the beginning of the completion of the refinery.

He also hailed President Bola Tinubu for supporting indigenous refineries, saying they align with the Federal Government’s vision to make petroleum products available and affordable to the people.

The Azikel Refinery is being developed as a full-scale petroleum refinery designed to produce Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and other refined petroleum products.

It is Nigeria’s second-largest private full-scale refinery with petrol production, with a daily production capacity of 2,500,000 litres of petrol and 2,000,000 litres of diesel.

Governor Douye Diri commended Dr. Eruani and Azikel Group for the massive $1 billion refinery investment, describing the development as an industrial revolution for Bayelsa State, the Niger Delta and the wider South-South region of Nigeria.

Diri noted that the refinery represents a shift from reliance on crude oil extraction towards local processing, value addition and industrial participation.

He also faulted the Land Use Act and the current 13 per cent derivation to oil-producing states, maintaining that the region deserved more from their God-given resources.

The governor said, “We do not want to take all to ourselves. We just want to be co-players in determining how it is done. Thirteen per cent is not enough for the states”.

The CDU is a principal component of the refinery’s processing infrastructure, responsible for separating crude oil into fractions for further processing into marketable petroleum products.

Its symbolic erection represents a significant construction milestone, marking the refinery’s transition into the completion phase of construction.

The visit and symbolic CDU erection brought together government officials, traditional rulers, financial institutions, industry stakeholders, technical partners and host community representatives.