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Sun, Jan

President Buhari Launches 5,000 bpd Refinery

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The President had a virtual launch of the 5,000 barrels per day modular refinery and also the groundbreaking of a 45,000 barrel per day plant located in Imo State.  President Buhari commended an indigenous oil firm, Waltersmith Refining and Petrochemical Group, and also the Nigerian Content Development and Monitoring Board (NCDMB) for the partnership, which was critical for the successful construction of the refinery.

The President said “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licenses without any coming on-stream, we are today seeing commissioning within two years.”

“The realization of the refinery roadmap will ultimately lead us to become a net exporter of petroleum products, not only to our neighboring countries but to other wider markets.”

President Buhari directed the Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources, the Department of Petroleum Resources (DPR), and other relevant agencies to support the refiner with assistance in, accessing crude oil and any other requirements necessary for the smooth operation of the refinery.

The Chairman of Waltersmith Group, Mr. Abdulrazaq Isa said the refinery is projected to distribute about 271 million liters yearly of refined petroleum products, such as diesel and kerosene to the local market.

Isa further disclosed that the refinery started operation in November and has delivered about 5 million liters of refined petroleum products to the domestic market.

Executive Secretary of NCDMB, Simbi Wabote, encouraged investors to ensure petroleum products are refined locally.

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