Obasanjo, Diri Call for Higher Oil Derivation as Bayelsa Refinery Project Advances

Former President Olusegun Obasanjo has said the 13 per cent derivation paid to oil-producing states should be increased through further negotiations. He spoke in Bayelsa during the flag-off of the Crude Distillation Unit at the Azikel Refinery project in Obunagha, Yenagoa. The $1 billion refinery is expected to produce about 2.5 million litres of petrol and two million litres of diesel daily when completed. Obasanjo urged the company to finish the project within 12 months and called for stronger financial support. Governor Douye Diri also criticised the Land Use Act and said oil-producing communities deserve a greater role and benefit from resources extracted from their land. He said the refinery could support industrialisation, create opportunities for Bayelsans and expand local participation in the petroleum sector.

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