The Governor of Osun State, Adegboyega Oyetola, has signed a Memorandum of Understanding (MoU), with VirtueplusTwo Integrated Nigeria Limited, for the establishment of a biorefinery in the state.
To meet emissions reduction targets, investments in biorefineries for the production of transport fuel and other chemical products are being encouraged to promote energy transition.
The biorefinery, said to be the first of its kind, will be situated on a large expanse of land measuring over 20 acres at Ayekale in the Boripe Local Government Area of the state.
Speaking at the event witnessed by the State Commissioner for Justice, Femi Akande, said the government took time to carefully study the MoU in relation to the integrity and competence of the firm to deliver the multi-million naira project.
…by the time a biorefinery of this magnitude becomes fully functional in the Ayekale area of the state, it would create 5,000 direct and 10,000 indirect employment opportunities for the people.
Represented by the Commissioner for Environment and Sanitation, Sola Oladepo, the Governor described the pact as another breakthrough in the area of industrialisation of the state, adding that the bio-refinery would aid the growth of small and medium scale enterprises (SMEs).
“A moratorium period of two years has been given to a firm known as VirtueplusTwo Integrated Nigeria Limited, to build a biorefinery in our state.
“This is in pursuance of Governor Oyetola’s commitment for the development of both human and material resources for a bigger and greater Osun State.
“For instance, by the time a bio-refinery of this magnitude becomes fully functional in the Ayekale area of the state, it would create 5,000 direct and 10,000 indirect employment opportunities for the people.
“The attendant benefits of the biorefinery are therefore immeasurable for the citizens and non-citizens of our dear old state,” he said.
In his remarks, Chairman/Managing Director, VirtueplusTwo Integrated Nigeria Limited, Dr Segun Iroko, lauded the confidence reposed in his firm by the state government to deliver the first-ever bio-refinery project in the state.
He said work would commence in earnest at the project site in Ayekale in a few days.