President Muhammadu Buhari has on Tuesday inaugurates the 5 , 000 barrels- per -day Waltersmith Modular Refinery and the groundbreaking for a 45 ,000 – bpd plant in Imo State.
The President said the realisation of the refinery roadmap that was rolled out two years ago will enable Nigeria to export petroleum products to neighbouring countries and other markets .
He commended Waltersmith Group , an indigenous oil firm , and the Nigerian Content Development and Monitoring Board for the collaboration that led to the construction of the refinery .
He said , “ We rolled out our refining roadmap in 2018 , to address challenges in the downstream sector . After many years of government giving out modular refining licences without any coming on- stream , we are today seeing a commissioning within two years.
“ The plan to commence the expansion of this refinery to 50 ,000 bpd capacity , to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing .”
“ The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products , not only to our neighbouring countries but to other wide markets ,” he said .
Buhari directed the Ministry of Petroleum Resources , the Nigerian National Petroleum Corporation , the Department of Petroleum Resources and all other relevant government agencies to provide all the necessary support to the refinery with regards to access to crude oil and condensate feedstock .