Wema Bank Plc. has announced its partnership with Nigerian Oil firm Petrolex Oil and Gas, Hyundai and Ajayi Legal Partner to build Africa’s second largest refinery in Odogbolu Ogun State.

According to a statement issued by the financial institution on Thursday, Wema Bank’s Head of Corporate Banking Henry Alakhume said the bank is proud to support Petrolex Group in the refinery and petroleum depot project. “We believe this will significantly boost Nigeria’s economy and create much needed jobs,” said Alakhume.

The deal signed also in collaboration with the Ogun State Government is set to be the largest petroleum product depot in Nigeria.

The Chairman, Petrolex Group, Mr. Segun Adebutu, while speaking at the signing ceremony said the two projects which will be located in Odogbolu Local Government Area of the state, and when completed would generate at least 2000 jobs and greatly increase the socio-economic condition of the host state.

Ogun State Governor, Ibikunle Amosun, assured Wema Bank and members of the consortium of his administration’s commitment to fully support the project.

“We have the political will and we would support the project fully. You can be rest assured that I will get involved, when necessary, in order to ensure that the project is a success,” Amosun said.


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