President Muhammadu Buhari is to commission the first phase of the brand new petroleum refinery, which is located at Ibigwe, Imo State and owned by Waltersmith Limited, an oil and gas integrated firm, this week.
The Federal Government holds a stake in the refinery, following an investment by the Nigerian Content Development and Monitoring Board (NCDMB).
Tomorrow November 24, 2020, President @MBuhari will Commission a 5,000 BPD Modular Refinery in Imo State and break ground on the Second Phase of the Project, a 45,000 BPD Refinery. A Joint project of Waltersmith Ltd and @OfficialNCDMB (on behalf of @NigeriaGov). pic.twitter.com/KsOaRqulbB
— Presidency Nigeria (@NGRPresident) November 23, 2020
This week President @MBuhari will Commission the first Phase of a brand new Petroleum Refinery by WalterSmith Limited, located at Ibigwe in Imo State. The @NigeriaGov holds a stake in the Refinery, following an investment by @OfficialNCDMB: https://t.co/BMlW8p8gMR
— Presidency Nigeria (@NGRPresident) November 22, 2020
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The phase 1 of the project is the delivery of 5,000 Barrels Per Day (BPD) Modular capacity refinery that is strategically located near the existing flow station and will process the circa 6,000 Barrels of Oil Equivalent Per Day (BOEPD) currently produced by the upstream business to the readily available market in the south-eastern part of Nigeria.
This is expected to contribute about 271 million litres of refined products including Diesel, Naptha, HFO and Kerosene annually to the domestic market and create both direct and indirect jobs particularly within the host communities.
The second phase is the delivery of 25,000 BPD crude and condensates refinery; an upgrade on the 5,000 BPD modular refinery.
The project is still at an early stage of development but is designed to produce; gasoline, diesel, LPG, kerosene and aviation fuel.
