OGBIA—A Bayelsa State-based industrialist and  President of Azikel Group, Dr. Azibapu Eruani, has said that the oil and gas section of the group is poised to support the Federal Government in improving capacity and increasing production and supply of petroleum products in the country.

Eruani stated this in a chat with newsmen during the coronation of His Royal Majesty, King Dumaro Owaba, Obanohban III of Ogbia Kingdom, in Ogbia Local Government Area of the state.

Describing Bayelsa State as the cradle of oil exploration in Nigeria, where oil was  first struck in commercial quantity in 1956, in Oloibiri community, Ogbia council, he noted with sadness that Bayelsans have not been able to access the industrial space as key players in the oil and gas sector of the  nation’s economy.

He commended the Federal Government for granting the initial 23 licences to oil firms at  the onset of the current administration in 2015, of which Azikel Petroleum is a beneficiary.

Eruani said: “This private refinery initiative by the Federal Government will have a huge payoff. The earlier award of the licence was also a strategic success for this administration because the development of refinery either modular or conventional, takes time to build. 

“Work at the Azikel Refinery site is 60 percent completed,” adding that Azikel Group is racing with time to be the first to commence production in 2018.

He commended the Federal Government for granting the initial 23 licences to oil firms at  the onset of the current administration in 2015, of which Azikel Petroleum is a beneficiary. Eruani said: “This private refinery initiative by the Federal Government will have a huge payoff. The earlier award of the licence was also a strategic success for this administration because the development of refinery either modular or conventional, takes time to build. “Work at the Azikel Refinery site is 60 percent completed,” adding that Azikel Group is racing with time to be the first to commence production in 2018. He explained that sequel to the increase in the end users of refined petroleum products, demand and the insufficiency, with the nation’s refineries producing at less than 15 per cent installed capacity,  “The Federal Government’s sagacity is germane to improve production, as the 23 firms granted licences have the capacity to shore up production by over 700, 000 bpd to bridge the insufficiency gap.”

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