The Ondo State refinery and free trade zone project is advancing following a new joint venture between Backbone Infrastructure Nigeria Limited and the state government. The partners have created Sunshine Joint Venture Infrastructure Limited as the main platform to develop a five hundred thousand barrels per day refinery and the Sunshine Free Trade Zone in Ilaje. This step follows the confirmation of more than fifty billion dollars in funding commitments secured through a partnership between BINL and NEFEX Holdings of Canada.
Project partners and ONDIPA officials have begun technical work, including site assessments and community engagements across the Ilaje waterways. The team includes global engineering firms and representatives of NEFEX, BINL and Cooldeal Limited. Their visit to the development corridor, along with meetings with the governor and local leaders, signalled readiness to move from planning into execution. Community stakeholders also expressed support, recognising the project’s potential to transform the coastal belt.
The project is expected to stimulate industrial growth, expand export opportunities and strengthen Nigeria’s downstream sector. It will deliver infrastructure such as refineries, tank farms, processing facilities and logistics routes, while also providing social amenities for local communities. Once completed, the refinery will meet domestic fuel needs, support manufacturing and create a new hub for energy and industrial activity in Ondo State.
