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Gov Oyetola signs MoU to establish bio-refinery in Osun



The Governor of Osun State, Adegboyega Oyetola, has signed a Memorandum of Understanding (MoU) between the state and a firm, VirtueplusTwo Integrated Nigeria Limited, for the establishment of a bio-refinery in the state.

The bio-refinery said to be the first of its kind in the state will be situated on a large expanse of land measuring over 20 acres at Ayekale area in the Boripe Local Government Area of the state.

Speaking at the event on Sunday, and witnessed by the state Commissioner for Justice, Mr Femi Akande, the governor said his government took time to carefully study the MoU bothering on the integrity and competence of the firm to deliver the multi-million naira project.

Represented by the Commissioner for Environment and Sanitation, Hon. Sola Oladepo, the governor described the pact as another breakthrough in the area of the industrialisation of the state.

Oyetola said the establishment of a bio-refinery in the state would aid the growth of small and medium scale enterprises.

READ ALSO: Osun Assembly confirms Gov Oyetola’s commissioner-nominees

“A moratorium period of two years have been given to a firm known as VirtueplusTwo Integrated Nigeria Limited to build a bio-refinery in our state.

“…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 bio-refinery 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 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.

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