Waltersmith Refining and Petrochemical Company has unveiled its expanded modular refinery in Ohaji-Egbema, Imo State, doubling capacity from 5,000 to 10,000 barrels per day.
The facility, backed by equity investment from the Nigerian Content Development and Monitoring Board (NCDMB), now produces diesel, Household Kerosene (HHK), Heavy Fuel Oil (HFO) and naphtha, supplying over 1.1 billion litres of refined products to Nigeria and West Africa since commissioning in 2020.
The inspection visit by NCDMB’s Executive Secretary, Engr Felix Omatsola Ogbe, and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive, Mr Saidu Mohammed, spotlighted Waltersmith’s role in energy security and local content development.
NCDMB’s Director of Legal Services, Dr Naboth Onyesoh, described the refinery as a model for industrialisation, job creation and import substitution.
Waltersmith Chairman, Mr Abdulrazak Isa, announced plans for a 30,000 bpd condensate refinery and an industrial park to host gas-based firms.
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The project will include a gas line delivering 100 million standard cubic feet per day and embedded captive power to attract industries.
Feedstock will be sourced from Ibigwe, Assa and nearby fields, with partnership agreements expected by late 2026.
Isa announced that the company had grown from owning a single oil field three decades ago to operating several fields today.
He stated its stake in Renaissance Africa Energy Ltd, which acquired the entire assets of Shell Petroleum Development Company of Nigeria (SPDC) in March 2025, underscoring Waltersmith’s evolution into a major player in the sector.
Mohammed while speaking praised Waltersmith as a "midstream octopus" and urged swift development of the condensate refinery, while reaffirming regulatory support.
He stated that such projects are central to Nigeria’s economic growth ambitions.