Nigeria’s Vice President, Professor Yemi Osinbajo has inaugurated the biggest Petroleum Tank farm in Sub Saharan Africa at Ibefun, Ogun State. Osinbajo who noted that the Peteolex tank farm will create more than 10,000 direct and indirect jobs said Private capital must lead economic revolution in Nigeria.
TVC News Ogun State Correspondent, Kazeem Olowe reports Built on 13, 000 hectares of land, the petrolex tank farm located at Ibefun, Ogun State has the capacity to store more than 300 million litres of petrol and is billed to play host to a refinery.
Speaking about the significance of the project which is private sector-driven, Vice President Yemi Osinbajo said the federal government is set to create an incentive regime to encourage industrialisation.
On his part, the initiator of the project, Segun Adebutu said he was propelled to come up with the idea due to the infrastructure gap in the oil and gas sector and to reduce traffic along Apapa expressway.
former Nigeria President, Olusegun Obasanjo while appealing to government officials in charge of oil and gas in the country to support the project said it would be a shame if the facility is not fully utilised.
The tank farm has the capacity to take more than four thousand tankers without traffic gridlock.