The Ondo State chapter of the Peoples Democratic Party has dismissed the state government’s recently announced $50 billion refinery and free trade zone investment as a “grand illusion,” accusing the Aiyedatiwa-led administration of feeding the public with “fantasy economics.”
In a strongly worded statement issued on Wednesday, the PDP described the investment announcement — involving Backbone Infrastructure Nigeria Limited and a Canadian firm identified as NEFEX — as a “masterclass in make-believe,” insisting that no concrete evidence exists to show that the deal is real.
The opposition party argued that the figures being quoted by the state government were unrealistic when compared with globally verified projects. “For context, the Dangote Refinery — the largest in Africa — cost $19 billion and took nearly a decade to complete,” the PDP said.
It also questioned the credibility of NEFEX, which it claimed was incorporated only in February 2025 in Canada without any track record of delivering major projects.
The party further alleged that no feasibility study, environmental assessment or public disclosure of the Memorandum of Understanding has been made, adding that no financial institution has confirmed the existence of the funds.
“What we are witnessing is not development but classic performance art,” the PDP stated.
“The people have not seen the terms, obligations or liabilities. Everything exists in the realm of storytelling, not transparency.”
The statement, signed by Wándé T. Àjàyí, the party’s Director of Media and Public Communications, accused the government of attempting to distract the public from what it described as governance failures.
“Governance is not theatre and development is not a press release. The people deserve truth, not trickery; results, not rhetoric,” Àjàyí added.
The party challenged the state government to publish the full MoU, profile its financiers, and release evidence of actual investment if the project is genuine.
Discover more from Rootedscope Media
Subscribe to get the latest posts sent to your email.
