Businessman Plans $2b Modular Refinery in Edo

By Dipo Olowookere

The construction of a modular refinery is being planned in Edo State by Nigerian businessman based in the United States, Mr Charles Ihaza.

The project is said to gulp about $2 billion and when completed, would produce about 80,000 barrels of refined petroleum products per day.

To kick start this project, Mr Ihaza said he has acquired about 453.9 hectares of land in Eghudu, Ovia North East Local Government Area of Edo.

Speaking at an open forum organised on Environmental Impact Assessment (EIA) in Benin City, the state capital, the businessman said the project would bring about development in the community and boost the economy of Edo State and Nigeria at large.

According to him, various basic amenities like roads, clinics, schools as well as a functional international market would be constructed in the host community as part of “our social corporate responsibilities.”

Mr Ihaza said, “I know what it takes to establish and manage a refinery, and we are already discussing with the relevant Federal Government agencies on the immediate commencement of the project.”