Categories: AFRICALatest

Buhari Inaugurates Nigeria’s Biggest Modular Refinery, Aims to Eliminating Petroleum Products Importation

President Muhammadu Buhari on Tuesday inaugurated Nigeria’s biggest modular refinery and says the establishment of modular refineries in the country will make petroleum products available in the country and eliminate importation.

The Nigerian leader spoke at the virtual inauguration of the 5,000 barrel per day Waltersmith refinery in Ibigwe, Imo State, as well as the Ground-Breaking Ceremony for the Phase-2 works to expand the capacity of the refinery to 50,000 barrels per day.

Presidential aide Femi Adesina in a statement said the deployment of modular refineries was one of the four key elements of President Buhari’s administration’s Refinery Roadmap rolled out in 2018, adding that its implementation will make Nigeria a net exporter of petroleum products.

He expressed delight that Waltersmith refinery in Ohaji Egbema Local Government Area of Imo State was coming on stream within two years of the commencement of the Roadmap, after many years of granting licenses for the establishment of modular refineries with nothing to show for it.

”Furthermore, there is increased momentum in the other three focus areas under the Roadmap covering the Rehabilitation of existing refineries, Co-location of new refineries, and Construction of greenfield refineries.

”The realization of the Refinery Roadmap will ultimately lead us to becoming a net exporter of petroleum products not only to our neighbouring countries but to the worldwide market.

”This modular refinery is the largest commissioned modular refinery in the country today.

”The role played by the Federal Government through the Nigerian Content Development and Monitoring Board (NCDMB) in going into collaboration with Waltersmith Refining and Petrochemical Company is novel in concept and superb in delivery,” he said.

The President described plans to commence the expansion of the capacity of the refinery to 50,000 barrels per day to refine crude oil and condensates as an important part of economic reforms the country is undergoing.

”I look forward to seeing this new phase completed within the target timeframe,” he said.

President Buhari, therefore, directed the Ministry of Petroleum Resources, Department of Petroleum Resources (DPR), NNPC, as well as all relevant Government Agencies to provide Waltersmith Company all the necessary support to access crude oil and condensate feedstock for the timely delivery of the additional capacity.

In line with his administration’s agenda on jobs creation, the President said he was pleased to note that hundreds of direct and indirect jobs were created during the construction of the first phase of the project in addition to the various business opportunities.

Equally, he expressed hope that the construction of the second phase of the project will create bigger additional employment opportunities.

President Buhari thanked the local community and the people of Imo State for hosting the refinery, which, he stressed, will bring prosperity and economic development to the area.

Abel Ejikeme

Follow us on:

AriseNews

Recent Posts

Abuja Court Issues Arrest Warrant for Dana Air MD Hathiramani Ranesh over Absence at Fraud Trial

A Federal High Court in Abuja has ordered the arrest of Dana Air MD Hathiramani…

16 seconds ago

Equatorial Guinea Anti-Graft Chief Embroiled in Major Sex Scandal, Over 400 Tapes Found Involving Top Officials’ Families

A High-ranking Equatorial Guinean official is facing a major sex scandal with 400 explicit sex…

6 mins ago

Tinubu Orders Immediate Release Of All Minors Arrested In Connection To #EndBadGovernance Protest

Tinubu Orders Immediate Release Of All Minors Arrested In Connection To #EndBadGovernance Protest President Tinubu…

12 mins ago

Court of Appeal Acquits Ex-CJN Onnoghen Of Non-Declaration Of Assets Charges, Orders Unfreezing of Bank Accounts

The Court of Appeal has discharged former CJN Walter Onnoghen, overturning his 2019 asset declaration…

4 hours ago

Adeyemo: Nigeria Must Put Its Best In Leading Roles To Stop Talents From Leaving

Oluwaseyi Adeyemo of the Nigeria-British Association has argued that Nigeria must prioritise top talent in…

4 hours ago

AFRIFF 2024 Kicks Off In Style In Celebration Of African Cinema And Creativity

AFRIFF 2024 commenced on Sunday with a glamorous night in Lagos, featuring a film premiere,…

4 hours ago