The Ogun State Government has signed agreement with a consortium of four private firms to build a refinery, proposed to be the second largest in sub-Saharan Africa.
The agreement also included the building of the largest petroleum product depot in Nigeria.
The agreement was signed in Abeokuta on Wednesday between the government and four firms: Petrolex Oil and Gas, Hyundai, Ajayi Legal Partners and Wema Bank Plc.