Ondo State secures over $50bn commitment for refinery, FTZ development

A major milestone has been recorded in Ondo State’s industrialization drive as Backbone Infrastructure Ltd has successfully secured funding commitments exceeding $50 billion for a massive energy and trade development project in the state. The secured funds are earmarked for the development of a 500,000 barrels-per-day (BPD) refinery and the adjacent Sunshine Free Trade Zone ...