By Austin Ogwuda
DELTA State government has successfully secured a $400 million investment for a modular oil and gas refinery with a daily production capacity of 20,000 barrels of crude oil, says Executive Assistant on External Relation and Diaspora Affairs to the Delta State Governor, Dr Sunny Ofehe.
Ofehe, who disclosed this in Asaba, weekend while addressing newsmen shortly after a meeting with the Secretary to the State Government SSG, Mr. Kingsley Emu expressed optimism that by the time Governor Sheriff Oborevwori-led administration will be marking its t first one year in office by April 2024, a minimum of $1billion international investment must have been achieved, thus positioning Delta State ahead of many States in terms of Foreign Direct Investment (FDI).
His words, “The opportunities we have in Delta are enormous so we can take advantage of his huge potentials, sell the potentials to the world, tapped into the potentials that our growing youths have and create enabling environment for this investors.
“I want to ensure that we achieve this and the Governor is open, wanting to let all of these to come in to fulfill his ‘MORE Agenda’ political promises to Deltans.
“We have be able to attract investment in the area of a modular oil and gas refinery. 20,000 barrel crude oil per day production. That has been secured of about $400 million.
“We also have housing shortages in the state and we want to de-urbanise the big cities so we have investors coming to build 2500 mega city.
“We also have German investors who want to set up assembling plant of their Agro-tractors equipment for farmers. This is to enhance mechanise farming that will increase agricultural output in the State”.
“The goal of the Oborevwori administration”, he continued , “is to transform Delta State from an import-dependent economy to an export-dependent one.
“We also have investors in the area of renewable energy which includes solar power. We have two companies that want to come in to acquire land and generate energy through solar to either supply the national grid or sell to private homes and estates. They have all done their due diligence and know how they will get their return on Investment”.
Regarding equity share and capital injection, Ofehe stated that this would not be a problem as the investors are bringing in their own capital.
“All of the investment opportunities that my office is bringing in are in line with the MORE Agenda. I have critically looked at the MORE Agenda, I have studied it and I know the MORE Agenda is achievable and that’s why I even accepted to serve him in his administration and I am bringing all of these investments to add value to the MORE Agenda.
“His Excellency is somebody I never got to know before the elections but now that I know him I am very much committed to work with him to achieve his goals because I know he is honest, truthful and have the yearning of the State in his heart.
“These projects are purely private sector driven with government coming in any form of equity with what they are bringing in as contribution that will probably given them certain percentage stake in the business.
“So, there is transparency because they are foreign companies, they have laid down standard to follow in terms of ethical standards and what we are adding to it is that a minimum of two percent will be set aside for corporate social responsibility for host communities development from the off take”, Ofege added.
Credit: Bigpen