Aiyedatiwa welcomes refinery investment in Ondo, pledges government support

…says project will transform state’s economy, generate jobs

By Precious Oluwole

Ondo State Governor, Hon. Lucky Orimisan Aiyedatiwa, has expressed optimism about the economic transformation that a new refinery and allied petrochemical projects will bring to the state, assuring investors of maximum support and cooperation.

Recieving members of Backbone Infrastructure Nigeria Limited in his office on Monday, Governor Aiyedatiwa described the investment as a timely intervention that aligns perfectly with his administration’s development agenda.

“You have come to make my job easier. What you’re bringing — especially the refinery and other projects — will drive significant growth and development in Ondo State. You’ve chosen to invest here, even when other states were available. That shows you’ve seen the potential in us,” the governor said.

The governor praised the strategic cooperation between the investor and the Ondo State Investment Agency, noting that their engagements have yielded meaningful progress. He revealed that he had received consistent updates and was confident the partnership was moving in the right direction.

“This is real for me,” he declared. “Once construction begins, the economic landscape will change. Job opportunities will emerge, businesses will spring up, and people will have meaningful engagements rather than resorting to crime. Peace and prosperity will follow.”

He added that the impact of the project would go beyond Ondo State to benefit the entire country.

“This is not just for Ondo. It will benefit Nigeria. The products that will come out of this refinery will serve the nation. It aligns with our goal to contribute to national development,” he said.

The governor also highlighted other untapped potentials in the state, including the second-largest bitumen deposit in the world and the longest coastline in Nigeria.

“Ondo is blessed, and many are just beginning to realize it. We’ve secured a license for a deep seaport, and we’re open to partnerships. I recently returned from China, and we are talking to multiple investors,” he added.

Governor Aiyedatiwa assured the investors of a peaceful, business-friendly environment, stressing that his government is committed to creating enabling conditions for private enterprises to thrive.

“We are elected to support growth. You can count on us,” he concluded.

Earlier, one of the board members, Mr Stephen Dike reaffirmed the foundation’s commitment to collaborating with the state government on key infrastructure projects, including a refinery and a free trade zone.

He expressed deep confidence in the state’s vision and leadership, which they described as “aligned” with the organization’s strategic goals.

He further explained that the Foundation was established over a decade ago to drive economic development in Nigeria through strategic infrastructure projects. He emphasized that while the Foundation had received several invitations across the country, Ondo State stood out due to the leadership, clarity of vision, and welcoming environment.

“Our partnership with Ondo State is very important to us. This is the foundation of our entry into Nigeria. We’ve had other invitations, but none has provided the motivation and alignment in leadership that we’ve seen here,” he said.

He underscored the commitment of the board to the state’s development, stating, “If this does not work, hold us personally responsible—from the chairman to the last person in this room.”

Also speaking at the meeting, the Managing Director of Backbone Infrastructure Nigeria Limited, Mr. Henry Owonka reiterated the Foundation’s readiness to invest in critical areas such as the refinery, free trade zone, and possibly a seaport. He acknowledged the governor’s openness to business and swift directive to engage relevant institutions including ONDIPA and development banks.

“Since our last meeting, we have worked tirelessly with ONDIPA to develop a framework that will bring these key projects to life. Your team has been exceptional. We are now at the point where we are looking forward to signing an MOU to kickstart implementation,” he said.

Henry further stressed that the infrastructure projects being discussed—particularly the refinery and the free trade zone—are of great significance to the people of Ondo State and represent a major milestone for economic growth and job creation.

The Deputy Governor, Dr. Olayide Adelami, Secretary to the State Government, Dr. Taiwo Fasoranti, Chief of Staff, Prince Segun Omojuwa, Head of Service, Mr Bayo Philip, Administrative Secretary, Ondo State Development and Investment Promotion Agency (ONDIPA) Mr Emmanuel Omomowo, Director, Business and Investment Manager, Engr. Femi Akarakiri.