By Oluseye Arowolo - Ibadan, Nigeria. The Ondo State Government has signed a Memorandum of Understanding (MOU) with Backbone Infrastructure Limited for the establishment of a 500,000 barrels per day oil refinery in Igbotiri, Ilaje Local Government Area of the state. The signing ceremony took place at the Governor's office in Akure. The Secretary to the State Government, Dr. Taiwo Fasoranti, described the proposed investment as timely and strategic, assuring the investors of a peaceful and business-friendly environment. He emphasized that the project would boost the state's economy, create meaningful job opportunities, and reduce crime. The Managing Director of Backbone Infrastructure Nigeria Limited, Mr. Henry Owonka, revealed that the refinery would be accompanied by basic infrastructure such as roads, terminal storage tanks, and others. He also disclosed that the second phase of the MOU involves the development of the Sunshine Industrial Park and Free Trade Zone. According ...
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