The Olugbo of Ugboland ,His Royal Highness, Oba Frederick Obateru Akinruntan has said that all necessary arrangement has been concluded to establish a refinery in his kingdom.

The refinery, according to him would bring social and economic development to the town in particular and Nigeria in general.

He also added that he decided to establish refinery in Ugboland to reduce the suffering of the country in the area of fuel importation. He also urged the Poland government to invest in the country.

He made the disclosure in his palace during courtesy visit of prospective investor,Mr. Witold .W. Gerlicz and his team  who paid him a courtesy visit .

Oba Akinruntan who is also the Chairman Yoruba Obas Conflict Resolution Committee said "I have been in petroleum business for the past 31 years and I can tell you that many countries that have been investing in the country in series of businesses are very proud of us . So I can assure you that if your government agree to come invest in the country they will not regret ."

He added: "Nigeria is a good country that is very accommodating. We don't discriminate here. I have travelled to many countries , not because that I 'm a Nigerian but I must confess to you ,Nigeria is one of the best country to invest .

 Oba Akinruntan noted that he had also invested in gas plant, oil well among others and would be ready to partner with the Poland government,insisting that he was in Abuja last year when the Poland Prime Minister came to Nigeria.

"We only produce crude oil here and we take it overseas at a cheaper price where it will be refined and brought back to Nigeria at higher price. So, my company just believes that we should do something about this, which is the reason for the establishment of refinery here in my Kingdom."

Oba Akinruntan therefore urged the Poland investors to take time and look round the Country as see area where he and possibly his Country can invest in Nigeria in due course.

Mr. Witold W. Gerlicz in his response said although Poland had been in crisis in the last 20 years but the country will want to collaborate and partner with Nigeria in the area of investment .

He noted that it would be more profitable for Nigeria if the country can be producing petroleum rather than importing it from European Country.