The Minister of Petroleum Resources, Chief Timipre Sylva, will commission a 5,000 barrels per day (BPD) modular refinery located at Ibigwe, Imo State, on 24 November 2020. The commissioning ceremony will be chaired by the Governor of Imo State, Chief Hope Uzodinma.
The facility is operated by Waltersmith Refining and Petrochemical Company Limited — a joint venture between Waltersmith Petroman Oil Limited (70% equity) and the Nigerian Content Development and Monitoring Board (NCDMB) (30% equity). In a letter to NIPC, the Chairman of Waltersmith, Mr Abdulrasaq Isa, acknowledged NIPC's support throughout the journey to establishing the project.
The 5,000 BPD project is the first of three phases. In the second phase, a further 25,000 BPD capacity will be added, and a final 20,000 BPD in the third phase — bringing total capacity to 50,000 BPD upon full completion. The refinery represents a significant boost to Nigeria's local refining capabilities and contributes to the Federal Government's objectives of reducing petroleum imports and growing local value addition in the energy sector.
