The two biggest investment in imo state right now, Imo State is raising

1 - Seplat Gas
2 - Walter Smith Refinery.

This is the right time to invest in imo state. Investing in the hospitality industry, real estate, Services sector etc because, I foresee massive economic activities from now on, Waiter Smith is starting operations this month 14th October, while Seplat is next year, hurry now and book your space early, because of stories that touch.

Please read:

Imo modular refinery will employ 2,000 youths – Wabote


A modular refinery , located in Imo State , with the capacity of 5 ,000 barrels per day will commence operations in October, the Nigerian Content Development and Monitoring Board has said .
The Federal Government, on Tuesday , applauded Waltersmith Petroman Oil Limited and the Nigerian Content Development and Monitoring Board for their effective partnership that led to the record completion of the modular refinery within two years, according to a statement on Wednesday .
The Minister of Information and Culture , Alhaji Lai Mohammed, was said to have conveyed the commendation after touring the project located at Ibigwe , Ohaji /Egbema LGA , Imo State.
The NCDMB said the refinery was started in October 2018 and would commence operations on October 14 , 2020 , loading out 23 trucks of refined products per day , having concluded off -take arrangements with select firms.
The minister was quoted as saying that the completion of Waltersmith modular refinery and conceptualisation of similar projects in Bayelsa State were key achievements of the current administration .
He described modular refineries as key to meeting the Federal Government ’s agenda of increasing local refining capacity and enhancing value addition to hydrocarbon resources and employment generation .
He said the government , through its relevant ministries and agencies , would provide Waltersmith with all the necessary support to operate and grow sustainably .
He said the refinery will employ 2 ,000 youths.
The Executive Secretary , NCDMB, Mr Simbi Wabote, said the board moved quickly to invest 30 per cent equity in the Waltersmith modular refinery project with the approval of its governing council.
According to him, one of NCDMB ’s mandates is to develop in -country capacities and capabilities to utilise and add value to the nation ’s hydrocarbon resources , while its vision is to serve as a catalyst for the industrialisation of the Nigerian oil and gas industry and its linkage sectors .
“ This vision contributes to the realisation of our 70 per cent Nigerian content target in the oil and gas sector by 2027 . Our partnership with Waltersmith and other similar investments are some of the levers we are using to deliver the target growth rate , ” he said.
Wabote said at least 10 per cent of Nigeria ’s oil production should be refined through modular refineries .
According to him , an average of 10 direct jobs are created for every 1 ,000 bpd capacity of modular refinery ; hence , over 2 ,500 direct jobs and over 25 ,000 indirect jobs can be created if 10 per cent of Nigeria’ s production is refined using modular refineries.


In his welcome remarks , the Chairman , Waltersmith Petroman Oil Limited, Mr Abdulrasaq Isah , indicated that the company decided to embark on the modular project as a strategy to address incessant pipeline vandalism and theft of its crude oil products .
He said the project would also ensure import substitution , energy security for the nation , lower of the company ’s operating cost and create lots of jobs .
He said the company planned to expand the refinery ’s production capacity to 50 ,000 bpd .
Isah said , “ We have started with the first module , which is 5 ,000 barrels . The next module will be 25 ,000 barrels . Then the final module will be 20 ,000 .
“ At that point we will be loading 120 trucks every day at peak production , comprising different products - diesel , kerosene, petrol , heavy fuel oil and jet fuel .”
He confirmed that loading of products would commence on October 14 , starting with diesel , to be followed closely with the commencement of the phase two of the project .
Isah also endorsed Federal Government ’ s deregulation of the downstream subsector , saying , “ The removal of subsidy has created a market for what we are doing. It also facilitates our ability to raise financing for the next module we will be doing .”


Seplat’s $700m Imo gas project to transform state, assures Orjiako

A $700 million gas project being developed in Imo State by Seplat Petroleum Development Company, an indigenous independent oil and gas company in Nigeria, will transform the state’s economy in all spheres, Bryant Orjiako, the company’s chairman, has assured.

The construction of the multi-million dollars gas process plant has commenced in the oil producing Ohaji/Egbema Local Government Area of the state and Orjiako led a strong management team on a visit to Governor
Emeka Ihedioha in Owerri Tuesday.

As a gas developing and commercializing company the trickle down effects of the project in the state would help in transforming the state in all spheres.

He urged the Imo government, as well as the people of the state, especially the host communities, to give the required cooperation and enabling environment for the project to materialize.

“Shortly after we acquired our asset in Imo State in 2016, the asset OML53, which was originally owned by Chevron, we have incrementally ramped up the production from less than 3,000 barrels per day. We are currently doing 9,000 barrels per day. We are hoping that in the next 12 months we should be thinking of 15,000 barrels per day and that is the beginning.

“More importantly we emphasize that we are a company that commercializes gas and also develops it and as at today, we produce 30 percent of gas to power in Nigeria and we are the only indigenous company doing this,” he explained.

According to Orjiako, Seplat took an investment decision early this year to invest $700 in the ANOH project phase one, which is to be situated in Imo state, adding that the project had been in the pipeline for decades but that once Seplat took over the asset, it made it a priority.

“Obviously, the trickledown effect of that project in Imo state is capable of completely synergizing with your vision for the state and will transform development in Imo state. What we expect is to have the right cooperation and for Imo state to also position itself and create the right environment for us to do business,” Orjiako told the governor.

Austin Avuru, Seplat’s chief executive officer, explaining the benefits of the project to Imo state to Ihedioha, promised that the company would fulfil its corporate social responsibility (CSR) to the state and
especially the host communities as the company had succeeded in Edo and Delta states.

“We will build trust with the communities and also build trust with your government, we will not come to disturb you, probably you won’t see us again but your key cabinet personnel will monitor the things we do and
report back to you. We supply one-third of the gas to plant in Nigeria.

We are building another one of 75 MMscfd in Sapele, we will build this one in Ohaji Egbema because we supply gas to the domestic market,” Avuru said.

According to him, most companies offer token to buy peace. “We don’t do that,” he said, adding, “Those that are fighting us in Sapele, we fought them. Those who are going to work with us we work with them. When those
who are fighting us saw what was happening to those working with us, they turned around to work with us. We don’t pretend.

“We give you jobs we can do and develop your capacity to do bigger jobs.
We will like to see the growth of indigenous capacity in delivering jobs, that’s how we operate and our flagship corporate social responsibility programmes like the ‘Eye can See’ programme is the most famous medical outreach in Edo and Delta states, we have a system and structure that can handle problems,” Avuru said.

Governor Ihedioha commended Seplat for the choice of Imo and promised to provide all enabling environment and support for the project to thrive.

“We want to assure you of our sense of dedication and commitment to grow private sector business in our state to encourage investments. Ours is a disciplined administration and we dare say that we are not greedy.

“We understand the responsibilities of businesses to a state and we also understand the point of convergence and understand how civilized relationships can be built. So we are ready and set for civilized
collaborative relationships,” said Ihedioha


https://www.businessamlive.com/seplats-700m-imo-gas-project-to-transform-state-assures-orjiako/

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Pretty impressive. Imo is transforming into a major downstream player.

SocialJustice:
Pretty impressive. Omo is transforming into a major downstream player.

you can say that again, Innoson (IVM) is also expected to perform his ground breaking later this year, many investors are coming into the state lately

everybody don ready to stand on its feet

Ok noted, unity begars (Yoruba Muslims Miscreants,) will not like this

Yobabad:
Ok noted, unity begars (Yoruba Muslims Miscreants,) will not like this

Stop this madness. Anyone against Development is a fool irrespective of tribe or Religion. Be wise!

Yobabad:
Ok noted, unity begars (Yoruba Muslims Miscreants,) will not like this

Please the purpose of this post is to create awareness of some development happening in Imo State and how the general public or investors can key into many opportunities in the state, not for ethnic bashing and insult. once again, please stop