Nigeria’s Gasoline Integrated International is planning to build a 3 billion naira ($68 million) refinery in Tongeji Island, The Punch newspaper reported, citing Ogun State Governor Dapo Abiodun.

The plant will have a refining capacity of 100,000 litres per day and other petroleum products at the beginning, which will be expanded to 400,000 litres per day.

The company, which has upstream and mainstream interests, has acquired an oil block at Tongeji Island, the newspaper said.

The project will be built on 800 hectares of land that had already been acquired, said Governor’s Chief Press Secretary Kunle Somorin.

The project will be completed in 36 months, powered by Chinese technology.

“With this project, Ogun State will have security and guarantee of petroleum products at all times,” the official said.