Governor of Ondo State, Lucky Aiyedatiwa, has disclosed that the state is on the verge of signing a Memorandum of Understanding (MoU) with a firm proposing to construct a 500-BPD oil refinery, a free trade zone, as well as other infrastructure projects in the state.

While stressing that his administration will give full backing to genuine investors whose projects align with the state’s development goals, Aiyedatiwa described the proposed investments as timely and strategic.

The governor, who made this announcement while receiving the leaders of Backbone Infrastructure Nigeria Limited at the Governor’s Office in Alagbaka, Akure, stated that the projects would not only boost the state’s economy but also create meaningful job opportunities and reduce crime.

He said, “This is real for me. Once construction begins, the economic landscape will change. Businesses will spring up, and our people will have better livelihoods.

“You can count on us; we were elected to support growth. What you’re bringing, especially the refinery and other projects, will change the face of this state. You’ve seen the potential in Ondo, and we will give you all the support you need.”

The governor also lauded the collaboration between the investors and the Ondo State Development and Investment Promotion Agency (ONDIPA), emphasising that he had been receiving encouraging updates and was confident of the project’s success.

He further noted that the initiative would contribute to national development, saying, “This is not just for Ondo. It will benefit the entire country. The refinery will serve Nigeria with its products.”

Highlighting Ondo’s untapped resources, including bitumen deposits and the state’s extensive coastline, the governor revealed that a license has already been secured for a deep-sea port, and the government is in talks with international partners, including investors from China.

A board member of the firm, Mr. Stephen Dike, who expressed the team’s confidence in the leadership and vision of the Aiyedatiwa-led administration, emphasised that the decision to begin operations in the state was based on the clarity of purpose and support they had received.

He said, “Our partnership with Ondo State is very important to us. This is the foundation of our entry into Nigeria. We’ve had other invitations, but none matched the motivation and leadership alignment we found here.”

Additionally, the Managing Director of Backbone Infrastructure Nigeria Limited, Mr. Henry Owonka, reiterated the company’s readiness to commence the project’s implementation.

“Since our last meeting, we’ve worked closely with ONDIPA to develop a working framework. Your team has been outstanding. We are now prepared to sign an MOU and begin work,” he said.