Ayo Baje
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“The project aligns with President Tinubu’s Renewed Hope Agenda, which envisions natural gas as a driver of industrial growth, innovation, and sustainable job creation.-Rt. Hon. Ekperikpe Ekpo, (Minister of State for Petroleum Resources (Gas) )With the recent commencement of full operation at the Indigenous Methanol and Ammonium Bicarbonate plant located in Omotosho, in Ore.Odigbo Local Government Area of Ondo state, being the first of its kind in the country along with the landmark $50 billion investment by Backbone Infrastructure Nigeria Limited (BINL) and Sunshine Infrastructure Joint Venture to establish a 500,000-barrels-per-day refinery, and a 1,471-hectare Free Trade Zone in Ilaje, it is understandable why the waves of accolades keep swerving all in the way of the highly resourceful and forward-thinking Governor Lucky Aiyetadiwa of the Sunshine State. WhilePresident Bola Tinubudescribed the chemical and fertiliser plant as a milestone in the country, the former governor of Osun state, Chief Bisi Akande, applauded the governor for his ground-breaking achievements, turningOndo has transitioned from a civil service state to an industrial powerhouse. But of great significance to us as a nation are the lasting lessons to glean from the remarkable strides taken to change the socio-economic trajectory of the state.One can imagine the spin-off effects these would cumulatively have as a change-maker in the critical areas of job creation, an increase in impactful investment, as well as energy independence, more so in an acclaimed oil-producing country, Nigeria. For instance, beginning with the Chinese-owned SuperTech Chemical Industry Limited, according to the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, the plant has the capacity to produce 100,000 metric tons of methanol and 160,000 metric tons of ammonium bicarbonate annually. That marks it as a historic leap for Nigeria’s gas-based industrialisation. He made this statement during a site tour and inspection of the SuperTech Methanol and Ammonium Bicarbonate Plant at the Ondo-Linyi Industrial Hub. Furthermore, he stated that: “Moving around and seeing the kind of investment that has come into this place is encouraging. They are taking advantage of our natural gas resources to produce methanol and ammonium bicarbonate.” He explained that he has charged the NNPC representatives to ensure upstream production takes advantage of this methanol output to support and grow this company.. And he gave assurance that the federal government will give them all the necessary support to scale production from the current 100,000 metric tons to the projected 500,000 metric tons by 2026. All of these remarkable industrial steps taking place under the tenure of Aiyetadiwa remind us of the insight provided by John Kolter that: “Leaders establish the vision and set the strategy for getting there”. But there is more to come for the good people of Ondo state, nay Nigeria, in terms of maximising the potential benefits of our natural resources That brings to the front burner the landmark $50 billion investment by Backbone Infrastructure Nigeria Limited (BINL) and Sunshine Infrastructure Joint Venture to establish a 500,000-barrels-per-day refinery in the coastal Ilaje area. Other important players as part of the consortium include MJ Care Investment Finance, China Harbour, and Honeywell OUP, backed by NEFEX Holdings Limited (Canada) through its Nigerian subsidiary, Nefex Petro Line Ltd. Recently, in a landmark event, the funding was facilitated through a joint venture agreement between BINL and NEFEX Holdings Limited of Canada. This marks one of the largest single private sector investment packages targeted at Nigeria’s downstream oil and gas industry. Precisely, the investment followed the signing of a Memorandum of Understanding,MoU, between BINL, led by its Chairman and former Senate President, Senator Ken Nnamani, and the Ondo State Government, through the Ondo State Investment Promotion Agency. That was back in July 2025. So far, the business transactions have followed due diligence. So, what lessons are there to be learnt from the projects? That is the million-dollar question.Worthy of note are the life-changing impacts expected from both the Indigenous Methanol and Ammonium Bicarbonate plant and the oil refinery. As widely reported, the refinery, upon completion, is expected to meet local demand for petroleum products, provide feedstock to related industries, and export refined products to international markets, as the Dangote refinery has been doing. It will also include storage facilities, loading bays, terminals, and a network of internal roads, according to the project brief. Eventually, the project is expected to transform Ondo State into a key refining and export hub in the Niger- Delta oil and gas corridor.According to BINL’s Vice President for Corporate Services, Wale Adekola, the partnership with NEFEX Petroline, an engineering, construction, and energy infrastructure firm with operations across North America, Europe, and the Middle East, will fast-track the technical and financial groundwork needed to commence construction.Their speciality also includes port and infrastructure development, petrochemical trading and supply, investment, and project management.BINL, which operates offices in Abuja, London, and Zug, Switzerland, said its corporate social responsibility framework will focus on education, skills development, and infrastructure projects in host communities. Adekola commended Governor Aiyedatiwa for his “visionary leadership” and commitment to attracting credible investors. “We commend the governor for opening the state to genuine partnerships and creating the right environment for both local and international investors to thrive,” he said.In a similar vein, the 1,471-hectare Sunshine Free Trade Zone is structured to host industrial clusters, logistics facilities, and residential zones. That will indeed position Ondo state as an emerging industrial hub in Southwest Nigeria. Expectedly, the project could significantly reduce Nigeria’s long-winding reliance on imported refined fuel, conserve foreign exchange, and create thousands of direct and indirect jobs. Good enough, that It also aligns with the move by the federal government to attract private capital into critical infrastructure, especially as the country seeks to replicate the Dangote Refinery model and expand its refining capacity.Viewed from the historical perspective, it is gratifying to note that Governor Lucky Aiyetadiwa has kept the noble legacies of the late sage, Chief Obafemi Awolowo alive, right from the Cocoa Industries Ltd and Farm Centres days to the present, with the several achievements spanning education, healthcare, agriculture, tourism,m to the current oil and gas sector. The laudable aim, of course, is to boost the local and national economy, create jobs, get the youths actively engaged, and improve the Human Development Index, HDI, to make life meaningful to the citizenry. As Henry Kissinger rightly noted: ” The task of the leader is to get his people from where they are to where they have not been “.
