President Muhammadu Buhari on Tuesday expressed confidence that the establishment of modular refineries in Nigeria will make petroleum products available and eliminate importation.
He spoke at the virtual inauguration of the 5,000 barrels per day Waltersmith modular refinery in Ibigwe, Imo State.
It is currently the largest commissioned modular refinery in the country.
The event included the Ground-Breaking Ceremony for the Phase-2 works to expand the capacity of the refinery to 50,000 barrels/day.
Buhari said the deployment of modular refineries was one of the four key elements of his administration’s Refinery Roadmap rolled out in 2018.
He added that the Waltersmith refinery in Ohaji Egbema Local Government Area of Imo State was coming on stream within two years of the commencement of the Roadmap.
”The role played by the Federal Government through the Nigerian Content Development and Monitoring Board (NCDMB) is going into collaboration with Waltersmith Refining and Petrochemical Company is novel in concept and superb in delivery,” he said.
Buhari noted 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.
The Nigerian leader 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.