Ex President, Obasanjo Seeks increase in 13% derivation for oil-Producing States
Former President Olusegun Obasanjo on Monday advocated an increase in the 13 per cent derivation allocated to oil-producing states.
Obasanjo spoke at the inauguration of the Crude Distillation Unit (CDU) of Azikel Refinery at Obunagha, Yenagoa Local Government Area of Bayelsa.
Newsmen reports that the one-billion-dollar refinery project is owned by Azikel Petroleum, under the Azikel Group.
The refinery is expected to produce 2.5 million litres of petrol and two million litres of diesel daily, alongside other petroleum products.
Obasanjo commended Azikel Group President, Dr Azibapu Eruani, for initiating the project and urged him to ensure its completion within 12 months.
He also appreciated the refinery’s technical and engineering team, African Finance Corporation (AFC) and Afreximbank for supporting the project.
The former president called for continued support to facilitate the refinery’s completion, noting that its development had progressed significantly since his previous visit.
Obasanjo also commended Gov. Douye Diri of Bayelsa for supporting the project and effectively utilising the state’s revenue, citing numerous development projects.
“I have told Dr Eruani that I will be officially 90 years by next March. It means I will take the boarding pass soon.
“He has to make sure the project is completed before I exit,” he said.
Addressing Diri, Obasanjo said Eruani had consistently acknowledged the governor’s critical contribution to the refinery project.