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The $1 billion Azikel Refinery being developed by Azikel Group President Azibapu Eruani in Yenagoa, Bayelsa State, is nearing completion as construction enters its final phase.

The refinery is designed to process 25,000 barrels of crude oil per day and produce petrol, diesel, aviation fuel, kerosene, liquefied petroleum gas (LPG) and other refined petroleum products.

A major feature of the facility is its ability to process condensate into a full range of refined petroleum products, a capability described as unique on the African continent.

The refinery’s journey began in 2015, when it received regulatory approval. In November 2023, Azikel Petroleum, an arm of the Azikel Group, secured a $259 million debt financing agreement with the African Export-Import Bank (Afreximbank) for what was then planned as a 12,000-barrel-per-day facility

Following a subsequent redesign and enhanced value engineering, the project’s capacity, scope and investment were significantly expanded, resulting in the current 25,000-barrel-per-day, $1 billion refinery.

About 700 engineers and technical workers are currently working on the project, with many of them being young Bayelsans alongside expatriate specialists.

When fully operational, the refinery is expected to create more than 3,000 direct jobs, while the project has already generated over 80,000 indirect jobs.

Azikel Refinery Bayelsa State