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Local refining: FG pledges support for Waltersmith Refinery

The Federal Government has promised full support for the expansion plans of Waltersmith Refinery, as part of efforts to boost local refining of petroleum products in the country.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who made the pledge during his official visit to the refinery located at Ibigwe, Imo State, said the refinery’s role aligned with one of his key objectives of ramping up Nigeria’s refining capacity and promoting economic growth.

“The shortest way to addressing our problem of low in-country refining capacity is modular refineries and that is why I am here to see things for myself.

”I am very proud of what I have seen. I also want to encourage Waltersmith and pledge my full support towards their expansion plans, so we can solve the energy problem of our country.”

Also speaking during the visit, the Executive Secretary of National Content Development and Monitoring Board, NCDMB, Engr. Simbi Kesiye Wabote, reiterated the Board’s commitment to supporting projects that aligned with the Nigerian Content Act, fostering local capacity development, and enhancing value retention within the country.

He said “NCDMB investment in Waltersmith Modular Refinery has turned out to be one of its best investment decisions so far.”

In his remarks, chairman of Waltersmith Group, Abdulrazaq Isa, emphasized the need for collaborative efforts between the private and government entities to advance the nation’s energy sector.

“We are moving from 5,000 to 10,000 barrels of crude oil a day (bpd) but our focus is on achieving 40,000bpd capacity.

”Already, we are engaging all necessary parties, especially the national oil company, Nigerian National Petroleum Company Ltd, NNPC Ltd, to ensure we have access to enough feedstock that will enable us get to the 40,000bpd capacity.

”That is where we are headed and our co-investor, the NCDMB, is happy with what we are doing,” he added.

The managing Director/Chief Executive Officer of Bank of Industry, BOI, Olasupo Olusi, said the bank was open and committed to supporting the expansion plans of  Waltersmith refinery.

He stated:  “We want to see the scaling up of refining in Nigeria. That will help in alleviating some of the economic issues at present and for us, that is a very strategic intervention in this critical sector of our economy.”

https://www.google.com/amp/s/www.vanguardngr.com/2023/11/local-refining-fg-pledges-support-for-waltersmith-refinery/amp/

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Welcome development

Imo the land of hope

Good news

Wow this is great news.

If more refineries springs up it will be a win win for all.

I think Peter Obi's proposition of giving license to modular refineries, would have been the best

This is what Nigeria needs to do to attain the needed refining capacity to feed the nation...building modular refineries which are easier to manage and maintain.

AustineE1:
This is what Nigeria needs to do to attain the needed refining capacity to feed the nation...building modular refineries which are easier to manage and maintain.

exactly bro

Let me know when they start to produce petrol. For now they can only produce diesel, kerosine, lubricant and maybe asphalt. Which is excellent for the economy.

And those IPOB terrorists should be watched keenly. They are capable of doing nonsense.

Sincerely, Tinubu is a good Man even though he has his own shortcomings just like every other human being. How can he allow let alone pledge Support from the State of same People that did their worst possible on Earth to Assassinate his Character? No Igbo would ever forgive as he did if such was done to them. Remember how Dgote became the greatest Billionaire in Niegria (and Africa)? The Flani Government systematically made Policies that Crippled every Igbo Company that tried to Compete with Dangote in his fields of Businesses. Tinubu can easily do same too and systematically Create/Push a Yoruba to become the latest Greatest Billionaire, but he is not as half as Nepotistic as his Predecessor.
Like if you are sincere enough to Agree that Tinubu has a forgiving heart, Share if not.

Nothing concern me but E dey mind

It's high time ...

Commendable.

This is what they should encourage instead of clamping down on them. Kudos

So we have this and others like this but no media hype and attention around them, only Dangote gets the hype ...

If the government will support these other refineries like they do Dangote, we would have gone a long way already....

You won't see any complain here since it's in the east lol

Noticed lately the south east is sitting up, with modular refineries in Imo, Anambra and Abia. Good development

It's a good move, even though i am not BATIFIED. I just hope it happens as he has promised.

Generalmystic:
If more refineries springs up it will be a win win for all.

I think Peter Obi's proposition of giving license to modular refineries, would have been the best

Make una rest with peter obi dis n dat.. modular
Refinery licence weh dem start since buhari regime first days in office. Almost 30 licenses were given even tinubu wan withdraw those ones weh no dey use am.

Everything in Nigeria is politics including good morning

Richb44:
You won't see any complain here since it's in the east lol

That is it...
If this was located in another region, you would have read a thousand hated comments and condemnation

With more and more oil and gas projects springing up in Imo, our GDP and IGR go loud in the future. Unfortunately, Hope Uzodinma will keep using our IGR to sustain his expensive lifestyle. APC is a curse to this country!

Hehehehehehehe.

Yoruba has zero resources asides cocoa and contribute nothing asides selling lagos lands..That's all that matter..Zero resources

WealthyNigerian:
Sincerely, Tinubu is a good Man even though he has his own shortcomings just like every other human being. How can he allow let alone pledge Support from the State of same People that did their worst possible on Earth to Assassinate his Character? No Igbo would ever forgive as he did if such was done to them.

Like if you are sincere enough to Agree that Tinubu has a forgiving heart, Share if not.

Another stewpid and disgusting post.

Oga, remember hatred kills and it kills slowly.
Who knows, maybe same thing killed Posh Mama, another chief hater
.

Way to Go

benuejosh:
Let me know when they start to produce petrol. For now they can only produce diesel, kerosine, lubricant and maybe asphalt. Which is excellent for the economy.

And those IPOB terrorists should be watched keenly. They are capable of doing nonsense.

Which one does Benue produce 🤔?

I know you and your ilk are pained that southeast is doing well without your Federal Government.