In a significant move boosting Nigeria’s petroleum infrastructure, Fynefield Petroleum inaugurated a cutting-edge petroleum product depot valued at N3 billion in the Calabar Free Trade Zone, Cross River State.
The newly commissioned facilities adhere to international standards, boasting a substantial combined capacity of 40,734,724 liters. This includes storage capacities of 20,413,594 liters for Petrol (PMS), 10,157,073 liters for Kerosene (DPK), and 10,164,057 liters for Diesel (AGO).
Expressing his enthusiasm at the inauguration, the Executive Governor of Cross River State, Professor Ben Ayade, hailed the investment as a pivotal milestone. He emphasized its significant contributions to the local and national economy, particularly in generating employment opportunities and facilitating efficient product distribution nationwide. Governor Ayade commended Fynefield Petroleum for selecting Calabar as the site for this cutting-edge petroleum depot, affirming the region’s suitability for such ventures.
Gabriel Ogbechie, the Managing Director of Fynefield Petroleum, highlighted the depot’s role in enhancing the petroleum distribution network across Nigeria. He underscored its strategic importance in serving not only Cross River State but also neighboring regions such as Akwa Ibom, Abi, Imo, Taraba, Plateau, as well as states in the North East and Northern Nigeria as a whole. Ogbechie emphasized the company’s commitment to the economic development of Cross River State and Nigeria as a whole, citing the depot’s potential to create direct employment for over fifty individuals and hundreds more indirectly through the operation of tank trucks servicing the facility nationwide.