President Muhammadu Buhari will this week commission a new petroluem refinery located at Ibigwe in Imo State.
According to a post on the verified Twitter’s handle of the Presidency, the refinery which was put together by WalterSmith Limited, is partly owned by the Federal Government following investment by the the Nigerian Content Development and Monitoring Board (NCDMB).
The tweet read: “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.”
A visit by PlatinumPost to WalterSmith Limited shows that refinery project is divided into two phases.
“The phase 1 is the delivery of 5,000 BPD Modular capacity refinery that is strategically located near the existing flow station and will process the circa 6,000 boepd currently produced by the upstream business to the readily available market in the south-eastern part of Nigeria.
“It 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 project is currently under construction and is expected to be commissioned by Qtr. 2, 2020,” the company said.
The phase 2 is the delivery of 25,000 BPD crude and condensate refinery; an upgrade on the 5,000bpd modular refinery. The project is still at an early stage of development but is designed to produce the following products: gasoline, diesel, LPG, kerosene and aviation fuel.
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