Former President Olusegun Obasanjo has commended the President of Azikel Group, Dr Eruani Azibapu, for his extraordinary vision and entrepreneurial courage in developing the $1 billion Azikel Refinery in Bayelsa State.
Obasanjo gave the commendation during a visit to the refinery site at Obunagha, Yenagoa Local Government Area, where he performed the symbolic erection of the refinery’s Crude Distillation Unit (CDU).
Obasanjo, who laid the foundation for the project eight years ago, expressed satisfaction with the transformation at the site and applauded Eruani’s commitment to indigenous refining.
The Azikel Refinery is a full-scale petroleum refinery designed to produce Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and other refined products.
It is Nigeria’s second-largest private full-scale refinery, with a daily production capacity of 2.5 million litres of petrol and 2 million litres of diesel.
Obasanjo commended the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) for their financial support and urged them to sustain it to completion.
He called for continued cooperation among sponsors, financiers, engineers and contractors and encouraged Eruani to accelerate completion.
Bayelsa State Governor, Senator Douye Diri, commended Eruani and the Azikel Group for the massive investment, describing it as an industrial revolution for Bayelsa, the Niger Delta and the South-South region.
He said the refinery represents a shift from crude oil extraction to local processing and value addition, with potential for employment, technical skills development and economic diversification.
In his welcome address, Dr Eruani expressed appreciation to Obasanjo for returning eight years after laying the foundation, saying the project was conceived to transform the Niger Delta from crude production and export to refining and industrial value creation.
He thanked President Bola Ahmed Tinubu for his commitment to energy security, Governor Diri, Afreximbank, AFC, technical partners and contractors.
The CDU is a principal component of the refinery’s processing infrastructure responsible for separating crude oil into fractions for further processing.
The ceremony brought together government officials, traditional rulers, financial institutions, industry stakeholders and host community representatives, including Azikel Petroleum board member, Dr Daru Owei and Chairman, Bayelsa State Council of Traditional Rulers, King Bubaraye Dakolo.
Stakeholders at the event said the refinery, upon completion, will significantly boost Nigeria’s domestic refining capacity and reduce dependence on imported petroleum products, thereby conserving foreign exchange and strengthening energy security.
They also noted that the project is already stimulating investment in engineering, logistics and transportation services, positioning Bayelsa as an emerging industrial hub in the country.
