See more as FG approves another refinery to produce fuel

• Waltersmith Refinery has received approval from NMDPRA to expand its operations in Imo State
• With the new license, Waltersmith can now process 10,000 barrels per day of crude, up from the previous 5,000 BPD
• The company plans to increase the refinery’s capacity to 40,000 barrels per day in the months ahead

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the granting of a new refinery license to Waltersmith Refining and Petrochemical Company Limited, located in Ibigwe, Imo State.

Waltersmith refinery gets additional licences Photo credit: Bloomberg/contributor
Source: Getty Images

This follows closely on the heels of Dangote Refinery's recent developments, signalling continued growth in Nigeria's refining sector.

In a statement released yesterday on its official X account, the NMDPRA disclosed that Waltersmith has been awarded a License to Construct (LTC) for Phase 2 of its refinery project.

The current Phase 1 development, operating as a modular refinery with a production capacity of 5,000 barrels per day (BPD), is set to undergo expansion to 10,000 BPD.

The ultimate goal is to ramp up production to 40,000 BPD in the near future.

Big hopes for Waltersmith

According to Farouk Ahmed, Chief Executive of the NMDPRA, Waltersmith's refinery in Ibigwe produces a range of petroleum products, including Automotive Gas Oil (AGO), Dual Purpose Kerosene (DPK), Heavy Fuel Oil (HPFO), and Naphtha.

The Phase 2 expansion is scheduled for completion by Q3 2025, with plans already underway for Phase 3.

Muhammad Musa, Managing Director of Waltersmith, expressed gratitude for the government's confidence in their capabilities and highlighted the milestone as pivotal in doubling the refinery's current capacity.

He affirmed Waltersmith's commitment to enhancing its contributions to Nigeria's economic landscape.

Dangote petrol is ready for roll-out

Legit.ng earlier reported that the Dangote Refinery is set to introduce the sale of Premium Motor Spirit (PMS), also known as petrol, into the Nigerian market.

The development comes a few days after the plant began the petrol production test run.

Reports say industry sources confirmed that the product would be available in the market very soon.

The Nigerian National Petroleum Company (NNPC) Limited is now expected to be the refinery's first customer.

Source: Legit.ng