๐๐๐๐ฌ๐๐ง๐ฃ๐จ i๐ง๐๐ฎ๐ ๐ฎ๐ซ๐๐ญ๐๐ฌ $๐๐๐ง ๐๐ณ๐ข๐ค๐๐ฅ ๐๐๐๐ข๐ง๐๐ซ๐ฒ ๐๐ซ๐ฎ๐๐ ๐๐ข๐ฌ๐ญ๐ข๐ฅ๐ฅ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ข๐ญ, a๐๐ฏ๐จ๐๐๐ญ๐๐ฌ h๐ข๐ ๐ก๐๐ซ d๐๐ซ๐ข๐ฏ๐๐ญ๐ข๐จ๐ง ๐๐จ๐ซ Niger Delta
In a historic milestone for Nigeria’s energy sector, former President Chief Olusegun Obasanjo (GCFR) on Monday visited Bayelsa State to officially inaugurate and perform the installation of the Crude Distillation Unit (CDU) at the multi-billion dollar Azikel Refinery.
Speaking at the project site in Obunagha Community, Yenagoa Local Government Area, the former Nigerian foremost leader used the platform to boldly advocate for an increase in the current 13 per cent derivation fund allocated to oil-producing states, describing it as merely a starting point that can be negotiated upwards.
The landmark $1 billion facility, owned by Azikel Petroleum under the Azikel Group, is designed to produce 2.5 million litres of fuel and 2 million litres of diesel daily, alongside other essential petroleum products, cementing its status as the second-largest full-scale indigenous refinery in the country.
Recalling that he laid the original foundation for the project eight years ago, Chief Obasanjo expressed profound awe at the transformation of the site. He lauded the President of the Azikel Group, Dr. Azibapu Eruani, for his relentless drive and issued an inspiring challenge for the final stretch.
“I have told Dr. Eruani that I will be officially 90 years by next year March, which means I will take the boarding pass soon. So, he has to make sure the project is completed before I exit,” Obasanjo quipped playfully. “With this done, you can even double the capacity.”
The former president also commended key financial backers, the African Finance Corporation (AFC) and Afreximbank, for their steadfast support, while praising Bayelsa State Governor Senator Douye Diri for providing a business-friendly environment and putting state resources into visible infrastructural development.
Bayelsa State Governor Douye Diri, speaking at the event, declared that the milestone refinery fully justifies the decades-long agitations by the Niger Delta against systemic oil injustices.
Governor Diri renewed his critique of the Land Use Act and the inadequate 13% derivation benchmark, arguing that resource-bearing regions deserve a fairer share of their God-given wealth.
“As people of the Ijaw ethnic nationality, we have protested and fought because we feel that God gave us something in our land but we are not benefiting from it,” Governor Diri stated. “The Land Use Act is unfair. Surface resources belong to states, but what lies underneath belongs to the Federal Government. That law is obnoxious and not good for any just society. Thirteen per cent is not enough.”
Diri further emphasized that the refinery transforms the narrative, empowering local citizens to transition from spectators to primary players in the oil and gas industry.
Azikel Group President Dr. Azibapu Eruani Godbless CFR thanked leaders and financial partners for their backing, noting that the installation of the CDU marks the definitive countdown to full commercial operations.
He praised President Bola Tinubuโs administration for supporting indigenous refiners whose vision aligns with making petroleum products readily available and affordable for all Nigerians.
With engineering support from global and regional institutions, the Azikel Refinery stands ready to catalyze industrial growth, create thousands of jobs, and redefine the economic landscape of the Niger Delta and West Africa at large
The high-profile inauguration ceremony drew widespread acclaim from prominent figures, including Bayelsa State Traditional Rulers Council Chairman, King Bubaraye Dakolo (the Ibenanaowei of Ekpetiama Kingdom and Chairman Bayelsa State Traditional Rulers Council ), and Azikel Petroleum board member Dr. Daru Owei, who echoed the immense economic optimism surrounding the project.
