Project of Baba Ijebu’s son: VP Commissions Africa Largest Tank Farm in Ibefun

Project of Baba Ijebu’s son: VP Commissions Africa Largest Tank Farm in Ibefun

Wednesday, December 13, 2017 3:51 am

The tank farm 2

Segun Adebutu: Baba Ijebu’s son

Adejoke Adeleye,Abeokuta

Vice President of Nigeria Prof Oluyemi Osinbajo GCFR SAN, yesterday commissioned the largest mega oil tank farm city in sub-sahala Africa at Ibefun,Ijebu-Ode,Ogun State.

The VP said “From point of view of government downstream objectives in the petroleum sector, this investment is of special significance to Nigeria.

“We must strengthen our distribution infrastructure for petroleum products and meet the target at the end of 2018 and first quarter of 2019 for reducing importation of petroleum products to less than 20 percent.

“This why we are delighted that this facility has capacity to store 300m litre of petroleum products, the largest of its kind in the country and I am told, the largest in sub-sahara Africa, and conveniently holding 4,000 oil tanks at a time and a gantry capable of brithing about 30m metric tons of cargo.

“This, will substantially improve retail distribution of oil and gas in Nigeria, increase domestic storage of petroleum products and the cargo coming in from larger vessels will be stored and loaded from the gantry right here. It will decongest Apapa and Ibafo tanker traffic, facilitate the distribution from here to anywhere in the country.”

But perhaps for greater importance as future of our national economic objectives is,this facility again bears out a philosophical plan of our economic recovery and growth plan which is that private capital must lead Nigeria’s economic revolution and this is right.”

Private sector is the nation’s major economic source and also the primary business of government is to create the environment that enables commerce thrive unhindered.

Importantly also is the fact that significance of local investments such as this send the strongest possible signal to foreign investors that not only is the government safe but Nigeria is indeed investment designation in Africa.”

Also at the commissioning was the Director,Nigerian National petroleum Corporation, Dr. Mairanti Baru who made it know to all that the government has never had any intention to increase petroleum price and by so doing workers of NNPC are going from one fuel stations to another to close any fuel station that has intention of inconviniencing Nigerians.

Gov Ibikunle Amosun,the governor of Ogun State,represented by his SSG Barrister Taiwo Adeoluwa said “we are so delighted to be here today because this success is for the state and we are proud of the Adebutu family and we are happy that he (Segun Adebutu ) has chosen to do this this in Ogun ”

Therefore on behalf of the executive governor Adeoluwa promised partnership with Petrolex.

Segun Adebutu the Chairman and Cheif Executive officer of Petrolex Oil and Gas in his remarks said “there is credible independent third party evidence that we are on the right path. A month and half ago, the World Bank adjudged Nigeria to be one of the tenth most improved economies in the world, this year, from the point of view of our business and investments plans.”

He also made it known that “this facility also represents jobs, 10,000 direct and indirect jobs.

Each of these jobs will support not just workers but their dependers. Moreover, the facility will have significant impact in the local economy here by way of increased income for traders, farmers, artisans and land owners and economic activities where there were no activities hitherto.

Also the federal government believes that industrialisation is key to achieving economic development growth and creating jobs for millions of our people

However Adebutu called on all private sectors, shareholders to support the course to create more jobs for youths in the country.

He added that there is no excuse why we cannot invest in Ibefun. This tank farm we are commissioning today will contain 4,000 oil tanks conveniently at a time and there want be traffic in the state like that of Apapa because we are building on 13,000 acres of land.

Who is Segun Adebutu?

Segun Adebutu, according to Wikipedia, is born to the family of Kesington Adebukunola Adebutu, Founder and Chairman, Premier Lotto Nigeria Limited, who hails from Iperu Remo, Ikenne Local Government, and Caroline Oladunni, from Odogbolu, both in Ogun State, South West Nigeria.

Segun Adebutu is Chairman and Chief Executive Officer of Petrolex Oil & Gas Ltd. He serves as the Executive Director and member of the Board of Premier Lotto Nigeria Limited. He is the Chairman of Bluebridge Marine and Oladiran Agro-Allied Company, Oladiran Engineering & Trade Limited. He ventured into entertainment business when he founded a music record label, named Baseline Records, which signed on music artistes like: Skales, Saeon, and others.

Segun Adebutu had his primary education at Saint Saviour’s Primary School, Ikoyi, Lagos. He proceeded to the International School Lagoslocated in the University of Lagos for his secondary education. He earned his bachelor’s degree in Economics at the University of Ibadan, Oyo State in Nigeria’s South West.

Segun Adebutu is the founder, financier and chairman of Oladiran Olusegun Adebutu (OOA) Foundation, a not-for-profit and non-political organisation, which was formally launched on Saturday, 22 October 2016 at Abeokuta, Ogun State, South West Nigeria. The foundation is committed to supporting orphans and vulnerable children to access “quality education, primary healthcare, nutrition as well as social and economic welfare.” Notable among the patrons of the foundation are:
* Olusegun Obasanjo, Former President of Nigeria
* Salihu Modibbo Alfa Belgore, Former Chief Justice of Nigeria
* Alabo Graham-Douglas, 4-time former Nigerian Minister
* Kesington Adebukunola Adebutu, Business Mogul
* Obi of Onitsha, Igwe Nnaemeka Alfred Achebe
* Emir of Zaria, Alhaji Shehu Idris

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