…as Chinese Firm Partners Alexis Refinery on Multi-Phase Refinery Project

The Delta State Economic and Investment Summit 2026 recorded one of its biggest investment milestones with the signing of a Memorandum of Understanding (MoU) between Alexis Refinery Limited and China’s PCCS Limited for the development of the proposed Alexis Refinery.

The project is expected to expand Nigeria’s refining capacity, strengthen the country’s petrochemical industry, and reduce dependence on imported industrial chemicals.

The agreement, signed at Deal Room 3 of the just concluded summit in Asaba, represents a significant step towards advancing Nigeria’s industrialisation agenda and underscores the growing confidence of foreign investors in Delta State’s investment climate.

The Memorandum of Understanding was executed by the Managing Director and Chief Executive Officer of PCCS Limited, Mr. Tian Jing, alongside Ms. Duan Lingling, while the Managing Director and Chief Executive Officer of Alexis Refinery Limited, Mr. Joey Obue, and Mrs. Augusta Izokun signed on behalf of the Nigerian company.

The ceremony was witnessed by Mr. Mohammed Oyibo, Mr. Echi Obue, and other stakeholders.

Speaking after the signing, the Chief Executive Officers of both companies described the agreement as a landmark achievement that finally moves the refinery project from years of planning and negotiations into the implementation phase.

According to the project promoters, the refinery will be developed in two phases. The first phase will focus on refining petroleum products to boost domestic fuel production, while the second phase will establish a petrochemical manufacturing complex to produce high-demand industrial chemicals currently imported into Nigeria.

Managing Director of Alexis Refinery Limited, Mr. Joey Obue, said the project is designed to stimulate local manufacturing, encourage domestic value addition, create employment opportunities, and position Nigeria as a leading supplier of petrochemical products across the West African sub-region.

He explained that the partnership with PCCS Limited brings internationally recognised engineering expertise and technical capacity required to deliver a refinery that meets global standards.

Obue further disclosed that substantial progress had already been made in obtaining regulatory approvals and engaging host communities, noting that the project has been deliberately structured to ensure the communities become equity holders and strategic partners rather than passive beneficiaries.

He said the arrangement would guarantee that host communities directly share in the refinery’s long-term economic benefits, reinforcing sustainable community participation and ownership.

Project promoters revealed that discussions on the refinery began in 2018 but noted that the Delta State Economic and Investment Summit provided the strategic platform that enabled both parties to conclude negotiations and formalise the partnership.

They described the agreement as one of the summit’s most tangible investment outcomes, demonstrating that the annual economic summit is evolving beyond policy discussions into a platform capable of attracting and securing high-value investments.

They also expressed confidence that the refinery project would enhance investor confidence in Delta State, accelerate industrial development, support Nigeria’s economic diversification strategy, improve energy security, expand manufacturing activities, promote export-oriented production, and reduce the country’s reliance on imported petrochemical products.

The refinery project is expected to become one of the flagship industrial investments emerging from the Delta State Economic and Investment Summit 2026, reinforcing the state’s ambition to position itself as a leading destination for large-scale manufacturing and energy investments in Nigeria.