Waltersmith Petroman Oil Limited Monday announced the expansion of its refinery capacity to 10,000 barrels per day (bpd), marking a major milestone in Nigeria’s drive for energy self-sufficiency. The achievement was highlighted during an official inspection visit by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Content Development and Monitoring Board (NCDMB) to the company’s Phase 2 facility at Ibigwe, Imo State, according to a statement by the company.
The delegation, led by NMDPRA’s Authority Chief Executive, Engr. Saidu Mohammed, alongside representatives of the NCDMB, assessed the operational readiness of the upgraded facility. The Phase 2 expansion effectively doubles Waltersmith’s refining capacity from 5,000 to 10,000 bpd, positioning the company as a key contributor to Nigeria’s domestic refining ambitions.
“What WalterSmith has accomplished is no small feat. This is a powerful demonstration that Nigerians have both the capability and responsibility to take charge of the midstream sector which is the true engine room of our economy,” Engr. Saidu Mohammed, Authority Chief Executive, NMDPRA, said.
Chairman of Waltersmith, Abdulrazaq Isa, emphasised that the expansion reflects both technical discipline and alignment with national energy policy objectives while maintaining strict adherence to regulatory standards, particularly those set by the NMDPRA. “We are moving Nigeria beyond an extractive oil economy to one focused on value creation.
By refining locally, integrating upstream resources, and building an industrial hub, we are laying a sustainable foundation for long-term economic growth,” Mr. Isa said. The upgraded facility introduces an expanded product slate, including Premium Motor Spirit (PMS) and Aviation Turbine Kerosene (ATK).
The additions are expected to improve supply reliability for Nigeria’s transportation and aviation sectors, while reinforcing the broader goal of transitioning from a crude-export-dependent economy to one focused on value addition. Regulatory approval is nearing completion, with the visit serving as a final assessment ahead of the issuance of a Licence to Operate (LTO) for full commercial operations of Phase 2.
The NMDPRA highlighted the company’s compliance with the Petroleum Industry Act (PIA) 2021 and praised its operational standards. A defining feature of the Waltersmith project is its partnership with the NCDMB, which holds a 30% equity stake.