The Ekiti State Government and British Petroleum (BP) will partner to develop bio fuel as well as crude and refined oil products.
This followed a meeting between Governor Kayode Fayemi and BP Managing Director, Nigeria and West African Sub-Region, Mr. Olakunle Gidado, in Ado-Ekiti on Tuesday.
Other areas of their collaboration, according to the governor, include the power sector.
Dr Fayemi said Fountain Holdings, which is the business concern of the state government, is partnering BP in the production of crude and refined products.
He said the state is particularly interested in ethanol (bio fuel) because of the global bio fuel initiative and the power initiative of the company. He added that the state is also willing to partner with other notable companies and institutions in the area of agriculture, in the bid to industrialise the state.
Gidado, an Ekiti indigene, hailed the government for making relevant laws to safeguard investment and investors.
He said the British firm would also do business with the state in the areas of bio fuel and power initiatives.
Fayemi thanked Gidado for the visit. The governor described him as one of the young men and women doing the state proud in their endeavours.