Ogun State Governor, Prince Dapo Abiodun, said the commencement of fuel production by the Dangote refinery will strengthen the nation’s economy by eliminating constant shortages and conserving foreign exchange.

Petrol produced from the 650,000 barrels per day Dangote refinery is expected to hit filling stations in the next 48 hours as modalities with the Nigerian National Petroleum Company Limited have been formalized.

Prince Abiodun, in a statement on Tuesday signed by his Chief Press Secretary, Lekan Adeniran, said that with the refinery coming on stream, one of the most significant challenges faced by Nigeria for more than three decades—reliance on fuel importation—will be solved.

According to the statement, with the Warri and Port Harcourt refineries also being prepared to begin production, Nigerians will heave a sigh of relief from constant fuel shortages, while the economy will also receive a boost.

Prince Abiodun praised Alhaji Aliko Dangote for his determination in seeing through the multi-billion dollar projects against all odds.

The governor also commended President Bola Ahmed Tinubu for his intervention in ensuring that the refinery comes on stream during his administration.

He praised the President’s commitment to the revitalization of other refineries in the country, which, he said, will drastically reduce fuel prices when all of them start production.

He said: “This significant achievement marks a transformative milestone not only for you as an entrepreneur but also for Nigeria and the broader African continent. The establishment of this refinery represents a pivotal shift in the energy landscape of the region, showcasing the power of vision, resilience, and unwavering commitment to economic development.

“The Dangote refinery is poised to be a game-changer in the production of petrol, addressing one of the most pressing challenges faced by Nigeria: reliance on imported fuel. This dependency has not only strained our foreign exchange reserves but has also hindered our potential for self-sufficiency.

“By producing petrol locally, the refinery will drastically reduce the outflow of foreign currency, thereby strengthening our economy. This move aligns perfectly with the President Bola Tinubu-led administration’s efforts to achieve economic diversification and reduce reliance on oil exports alone.

“Moreover, the economic impact of the refinery extends beyond just fuel production. It is expected to generate thousands of jobs, both directly and indirectly, thus contributing to the reduction of unemployment rates. The ripple effect of this employment generation will invigorate local economies, stimulate growth in ancillary industries, and enhance the livelihoods of countless families across Nigeria.

“In addition to bolstering local employment and economic activity, the refinery’s operations are expected to enhance energy security in Nigeria. With the capacity to produce a substantial volume of petrol, the country will be better equipped to meet its energy needs, reducing the volatility associated with fuel shortages and price fluctuations.

“This stability will inevitably create a more favorable environment for businesses and attract foreign investments, further boosting economic growth.”

Lagos State Governor, Babajide Sanwo-Olu, on Thursday, inaugurated 270 units of two-bedroom flats at the Egan-Igando Mixed Housing Estate, Igando-Ikotun Local Council Development Area (LCDA), Lagos.

The project located in the Ikeja Division of Lagos State is Cluster One of the proposed 101 blocks of 846 home units made up of one, two and three-bedroom apartments on a land area of 17.358 hectares to provide decent accommodation for sub-urban dwellers.

The housing project, which defied all efforts at completion for several years, was successfully delivered on Thursday by Governor Sanwo-Olu-led administration to reduce the housing deficit and provide decent accommodation for residents in the State.

The Egan-Igando Mixed Housing Estate (Cluster One) has infrastructural components that include a network of well-structured roads, a well-channeled drainage system, an ingestion station, ample car parks, potable water, a perimeter fence, a central sewage treatment plant, and electricity transformers.

Speaking at the unveiling ceremony, Sanwo-Olu promised to complete the remaining 576 home units in Clusters Two and Three of the Egan-Igando Mixed Housing Estate for more residents to benefit, irrespective of their ethnicity or political affiliations.

Sanwo-Olu, who appealed to beneficiaries to take ownership of the project and protect it from vandals, said his government is ready to partner with the private sector to build more affordable housing estates in Lagos State.

He said, “The completion of this project will address the urgent need for affordable housing and also foster a sense of community and belonging among our residents. This project is designed to cater to diverse economic groups, reflecting a vision of an inclusive society where everyone has a home.

“We must innovate and partner with private investors to bridge the gap, which we cannot do alone. We need to enhance our public and private investments in housing. We must continue to build decent homes. I will like to appeal to future occupants to please ensure good maintenance of these facilities.”

Sanwo-Olu also urged traditional rulers and community leaders to provide more land for the government to build more infrastructure in rural areas.

The Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, said the Egan-Igando Mixed Housing Estate is a landmark project that stands as a testament to Sanwo-Olu’s commitment to providing affordable and quality housing for the residents of Lagos State.

Akinderu-Fatai, who noted that the project experienced a lot of challenges due to a paucity of funds, appealed to the private sector to partner with the Lagos State Government to provide more affordable housing for residents.

The Commissioner disclosed that Sanwo-Olu, in his magnanimity, has graciously approved that all existing subscribers with full payment for either a unit of two bedrooms or three bedrooms be given allocation from Cluster One at no additional fees to the selling price.

Akinderu-Fatai, who noted that the gesture by the governor is to appreciate the trust and commitment of the subscribers over time in Lagos State, said other subscribers with more than 50 percent commitment on the initial selling price shall be considered with an option to balance up at the current selling price.

He said: “This significant occasion marks the completion of 270 units of two-bedroom apartments, a vital step towards alleviating the housing deficit in Lagos, hence bringing succor to the beloved people of the Igando-Ikotun LCDA in Alimosho LGA.

“Today, we are proud to present Cluster 1, with 45 blocks consisting of 270 units of two-bedroom apartments with complimentary infrastructure. We not only celebrate the completion of these units but also the resilience, dedication, and hard work that have brought this vision to reality.

“As we hand over the keys to the new homeowners, we reaffirm our commitment to completing Clusters 2 and 3. We will continue to work assiduously to overcome any challenges, ensuring that every promised unit is delivered. This project is a clear indication that when we combine vision with dedication, the results are transformative.”

Akinderu-Fatai commended Sanwo-Olu for his great determination and unusual support for the housing sector, particularly on the completion and delivery of the Egan-Igando Mixed Housing Estate.

The Chairman of Igando-Ikotun LCDA, Lasisi Akinsanya, and Onigando of Igando Land, Oba Lasisi Gbadamosi, praised Sanwo-Olu for the Egan-Igando Mixed Housing Estate, saying they appreciated the good gesture.

The quest of Ogun State to be an oil producing State would soon materialize as the Nigerian National Petroleum Corporation Limited (NNPCL), sets to begin oil and gas exploration in the Gateway State.
Stakeholders in the oil industry, including the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri,
Managing Director, SHELL Petroleum Development Company Ltd, Mr. Osagie Okubor; Chief Executive, Nigeria Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe and the Group Chief Executive Officer, NNPC Ltd, Mr Mele Kyari, stormed Ogun State on Friday on plans by the Federal Government to start oil exploration in the state.
They were received by Governor Dapo Abiodun and his Deputy, Engr. Noimot Salako-Oyedele.
Hon. Lokpobiri, who spoke at the governor’s office, Oke-Mosan, Abeokuta said Ogun State has always been part of the Dahomey Basin with prospect of having huge deposit of hyrdro-carbon.
The Minister said: “We decided that we are going to resume exploration in the different Basins; we decided to come to Ogun State to reassure the people that we have very high potential of discoveries here. Ogun has always been part of the Dahomey Basin and our presence underscore the seriousness the federal government attaches to the exploration activities that we want to carry out in Ogun State.”
Hon. Lokpobiri who added that oil and gas remain the quickest way to Nigeria’s economic prosperity, said his team is in the State in continuation of the campaign for exploration activities.
He said the visit was also to demonstrate the seriousness and commitment of the federal government to shore up its revenue through the oil and gas sector.
“Today we are here to tell the people of the federal government’s commitment to ensuring that we continue our campaign and exploration activities across the country. We are doing this exploration activities in several places across Nigeria and today we are in Ogun after which we will proceed to Sokoto State,” he added.
The Group Managing Director, Nigerian National Petroleum Corporation Limited,(NNPCL) Mr. Mele kyari, while speaking, said Ogun State is blessed to be in the Dahomey Basin corridor with expected high deposit of oil, assuring that the corporation is coming back in ernest to commence exploration activities, even as he expressed the hope that oil would be found in commercial quantity.
In his remarks, the Executive Director, Nigerians Upstream Petroleum Regulatory Commission, Mr. Gbenga Komolafe, said the coming of the team to Ogun State is to further demonstrate the commitment of the Federal Government to grow the oil reserves and enhanced federation revenue.
“We all understand that Nigeria is very prolific in oil and gas, but then there is still need to grow the reserves through exploration activities given our huge hyrdro-carbon as a bench mark,” he noted.
Komolafe informed that the Petroleum Industry Act (PIA) makes provision for the funding of the development of the Frontier Basins, adding that in line with the commitment and the aspirations of the government, the Nigerian Petroleum Regulatory Commission is working in synergy with the NNPCL to leverage on the PIA to aggressively carry out oil exploration in the Dahomey Basin.
“The Dahomey Basin stretches up to Delta, Edo, Ogun and Ondo states. We intend to in the course of this exercise, cover all those states leveraging on the provision of Section 9, Subsection 4 of the PIA. This is good opportunity for the people of Ogun State and it would be complementary to the reforms and transformation initiatives of the governor. We want to congratulate the governor and the people for being the beneficiaries of this initiative,” Komolafe said.
Responding, Governor Abiodun said Ogun State is part of the OPLs 302,303 306, 307, saying the acreages present unique opportunities for the qualification as a Frontier Exploration State as defined in the PIA section 9.
He observed that the history and studies over the years allow any investment under the frontier exploration basin funding to not only realize the oil and gas potentials, but also acquire data that would aid Bitumen exploration and exploitation in Nigeria.
The country, Abiodun maintained holds the second largest reserves in the world of 42,b tons, adding that a lot of studies have shown the potential of the basins, which brings Ogun State to the fore and projecting it towards becoming a beneficiary to achieve commercial success and derive economic benefits from exploration and production within a minimum time schedule.
“It is noteworthy that this is a region of the country that provides ease of access, low entry and operating costs, a safe and welcoming community and a very active state government support and participation.
“Ogun State therefore presents some unique opportunities towards the realization of the full intentions of the PIA section 9 on frontier exploration as it will contribute to guarantee additional petroleum production of additional petroleum products for the country and afford more supply to potential refineries in the area.
“As a low hanging result, this area also presents the opportunity for Bitumen extraction, thereby reducing import dependency and bringing with its savings in foreign exchange expenditure on this single line item,” governor said.