A delegation from BSM Group, a petroleum refining and petrochemical conglomerate based in Romania, yesterday expressed its desire to establish a petroleum refinery in Nigeria. The group, led by its President, Alhaji Lateef Ogungbadero disclosed this at the formal presentation of the company to Nigerian Investment Promotion Commission (NIPC).
The visit came as a result of the recent plea made by NIPC�s Executive Secretary, Dr. Mustafa Bello for the establishment of more refineries in Nigeria in order to enhance economic development through the oil and gas sector.
The Romanian firm said that the refinery, which will produce 17,000 barrels of fuel daily, would employ about 10,000 Nigerians on take-off. He further stated that the company would build customised transportable filling station units, the first of its kind in Nigeria, which will benefit industrial firms, homes and offices. He said the company would also distribute petroleum products to outlets across the country with cooperation from NNPC.
Speaking with newsmen, Ogungbadero disclosed that BSM has succeeded in acquiring land in two locations in Nigeria – Itomo community along Lekki- Epe Free Export Trade Zone in Lagos State and Ikwuabe community in Delta State. According to him, the communities have so far been cooperative, as they have donated 250,000 hectares of land for the project.
To show how all encompassing the project is, he said that BSM is presently negotiating with the Economic Community of West African States (ECOWAS) since some member- states depend on Nigeria for petroleum products.
Decrying the spate of violence in the Niger- Delta, Ogungbadero emphasised the need for security beef- up, as the project would not reach its full potential if there were distractions and outright violence.
According to him, the collaboration with the Romanian government was borne out of the fact that Romania , which is the first country worldwide to discover, process and refine petrochemicals into kerosene for use has accepted to partner with the Nigerian government to enable the successful outworking of the project. Decrying the uncooperativeness of the other oil companies presently on ground in Nigeria , Ogungbadero said that since BSM�s approach and focus differs from those of the others, he urged the Federal Government to support their noble initiative to greater heights.
Responding, the Executive Secretary of NIPC, represented by Ghaji Bello, a director in the Commission referred to the project as �a cornerstone project for Nigeria , especially if one takes on board that at present, refineries in Nigeria are all moribund, further stating that �our country can take 10 times more of this kind of initiative and even more�. He encouraged them and promised of the Commission�s support in the business.