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Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development

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Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development

By: Michael Mike

Following the successful execution of the Memorandum of Understanding (MoU) between Backbone Infrastructure Ltd and the Ondo State Government, through the Ondo State Investment Promotion Agency (ONDIPA), for the construction of a 500,000 barrels-per-day refinery and the development of a 1,471-hectare Sunshine Free Trade Zone in the Ilaje area of Ondo State in July, Backbone has secured project funding exceeding $50 billion for both projects through a joint venture agreement with its partner, NEFEX Holdings Limited of Canada.

The team, which arrived in Nigeria last Sunday, is set to visit Ondo State to interact with the State Government Officials and pay a courtesy call on the Executive Governor, HE Lucky Aiyedatiwa.

The BINL team will be led by the Chairman, HE Senator Ken Nnamani, including other Board members and the Executive management team led by Henry Owonka.

The meeting will explore the roadmap towards commencement of the projects, including presentations with ONDIPA and visits to the project sites and engagement with the host communities led by the Olugbo of Ugbo Kingdom, Oba Obateru Akinrutan.

Speaking on the refinery financiers, BINL’s Vice-President for Corporate Services, Mr Wale Adekola, disclosed that NEFEX Petroline is involved in engineering and construction services for ports, terminals and logistics facilities, including pipelines and facilities in the Oil and Gas Industry.

Their specialty also includes port and infrastructure development, petrochemical trading and supply, investment and project management.

Adekola stated, ‘’With operations across the Middle East, Europe, North America, and beyond, NEFEX Petroline combines the advantages of a global network with deep local understanding. The firm maintains partnerships with leading global financial institutions to secure multi-currency credit lines and liquidity support for large-scale operations.’’

‘’Our partnership with NEFEX opens the next chapter for the commencement of BINL Refinery development, ‘’ the BINL executive added.

BINL, which operates from offices in Abuja, London and Zug, Switzerland, is also exploring a strategic partnership with the Nigerian National Petroleum Company Limited (NNPC Ltd) to drive the development of the ultra-modern refinery complex.

BINL initiative would provide a critical lifeline, easing pressure on foreign exchange reserves and enhancing national energy security.

It said its corporate social responsibility strategy would prioritise education, local employment quotas and infrastructure development in surrounding communities.

The BINL refinery will provide petroleum products for local consumption, feedstock for other local industries and petroleum products for the international market.

The refinery project includes the construction of roads, storage tanks, loading bays, terminals and handling equipment. The scope of the Free Trade Zone Project includes the development of the required infrastructure and facilities for the effective operation and management of the Free Trade Zone.

The projected $50billion investments in the refinery and FTZ are expected to change the landscape of infrastructure in Ondo state while transforming the social and economic status of the people.

Adekola applauded Governor Aiyedatiwa for his commitment and robust support for the projects which have attracted a groundswell of approval from the people of the state across the globe.

‘’We commend the governor for opening the state to genuine investors and creating the right environment to partner with investors, local and international.’’

Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development

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VP Shettima, Zulum Attend Eid Prayers at Ramat Square as Worshippers Observe Sallah Peacefully in Maiduguri

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VP Shettima, Zulum Attend Eid Prayers at Ramat Square as Worshippers Observe Sallah Peacefully in Maiduguri

By: Our Reporter

Vice President, Senator Kashim Shettima, Borno State Governor, Professor Babagana Umara Zulum, joined thousands of muslim faithful to observe the Eid prayers at Ramat Square, Maiduguri.

The two units prayer were observed peacefully at the main Eid ground and other prayer grounds across the state under tight security, marking the end of the month-long Ramadan fast.

In a sallah message shortly after the sermon by the Imam Idaini of Borno, Shettiima Mamman Saleh, the Vice President called for unity and peaceful coexistence in the state and the country as a whole.

Senator Shettima assures the Federal Government Gommitment to protecting the lives and properties of the citizenry, stressing that the fight against insurgency would be tackled head-on.

The Imam Idaini admonished worshippers to imbibe the lessons learned during the holy month and encouraged Muslim faithful to give alms to the poor (zakatul fitr) and to fast six days in the month of Shawwal to receive Allah’s bounties and rewards.

Borno State Governor, Professor Babagana Umara Zulum, in a sallah message, called on faithful to recharge their spiritual beings towards rebuilding a secure, peaceful, and prosperous Borno.

He saluted the courage, resilience, and commitment of the people to all initiatives aimed at deepening security and peace-building among the various components of society, fragmented by the Boko Haram insurgency over the years.

The Eid prayer was attended by the Shehu of Borno, Shehu Abubakar Ibn Umar Garbai Almin El-Kanemi; the Borno State Deputy Governor, Umar Usman Kadafur; the APC Deputy National Chairman, North, Senator Mohammed Ali Ndume; and Senator Kaka Shehu Lawan SAN, Minister of State for Regional Development.

Other dignitaries include members of the House of Representatives and the Borno State House of Assembly, former deputy governors, the Secretary to the State Government, Commissioners, APC stalwarts, and other top government officials.

VP Shettima, Zulum Attend Eid Prayers at Ramat Square as Worshippers Observe Sallah Peacefully in Maiduguri

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Eid-el-Fitr: IPCR Urges Nigerians to Embrace Unity, Peaceful Coexistence

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Eid-el-Fitr: IPCR Urges Nigerians to Embrace Unity, Peaceful Coexistence

By: Michael Mike

The Institute for Peace and Conflict Resolution (IPCR) has called on Nigerians to strengthen unity, tolerance and peaceful coexistence as Muslims across the country celebrate Eid-el-Fitr, marking the end of the holy month of Ramadan.

In a statement issued on Thursday in Abuja, the Director-General of the institute, Dr. Joseph Ochogwu, congratulated the Muslim Ummah in Nigeria and around the world on the successful completion of the Ramadan fast.

He said the occasion, which signifies the end of a period of fasting, reflection and spiritual devotion, provides an opportunity for citizens to renew their commitment to the values of peace, compassion and national unity.

Ochogwu urged Muslims to sustain the virtues cultivated during Ramadan—such as self-discipline, patience, charity and piety—beyond the festive period, stressing that such values are essential for building harmonious communities and strengthening the nation.

According to him, Nigerians must also rise above religious, ethnic and political differences and embrace mutual respect and peaceful coexistence as vital ingredients for national development.

“At a time when the country is confronted with complex challenges, unity of purpose and collective responsibility are crucial to overcoming divisions and building a more secure and prosperous nation,” he said.

The institute also expressed concern over recent security incidents in parts of the country, including the tragic bomb blast in Maiduguri, Borno State, which claimed several lives.

Ochogwu extended condolences to families of the victims, praying for the repose of the deceased and speedy recovery for those injured in the attack.

He reaffirmed the institute’s commitment to its mandate of promoting peacebuilding, conflict prevention and resolution across Nigeria, noting that IPCR would continue to work with government institutions, communities and other stakeholders to address the root causes of conflict.

The IPCR boss further urged citizens to remain vigilant, cooperate with security agencies and actively support peacebuilding initiatives in their communities.

“Peace is a shared responsibility, and every Nigerian has a role to play in safeguarding it,” he added.

Ochogwu also prayed that the Eid-el-Fitr celebration would usher in renewed hope, healing and unity for Nigeria while advancing peace, stability and national progress.

Eid-el-Fitr: IPCR Urges Nigerians to Embrace Unity, Peaceful Coexistence

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VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism

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VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism

By: Our Reporter

The Vice President, Senator Kashim Shettima, has restated the Federal Government’s resolve to defeat terrorism, declaring that those behind recent attacks in the country will be decisively confronted.

He noted that beyond the presidential directive to security chiefs, the Federal Government was investing more in equipment and other logistics to boost the fight against terrorism across the country.

Senator Shettima spoke on Wednesday in Maiduguri when he visited victims of the bomb blast who are receiving treatment at the University of Maiduguri Teaching Hospital.

Condemning the gory multiple explosions in Maiduguri on Monday in which more than 100 people were affected by the incident, with over 20 confirmed dead, he described the perpetrators as barbaric, stressing that no cause justifies the killing of innocent people.

The Vice President said his visit was to sympathise with the injured and families affected by the tragedy, assuring of government’s support through the National Emergency Management Agency (NEMA), the North East Development Commission, and the Borno State Government.

The Vice President was accompanied by Borno State Deputy Governor Usman Kadafur; NEMA Director-General, Zubaida Umar; Chief Medical Director of the University of Maiduguri Teaching Hospital, Professor Ahmed Ahijo, and other top government officials.

VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism

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