The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said that the painstaking implementation of the Nigerian Oil and Gas Industry Content Development Act (NOGIC) Act 2010 has encouraged more local modular refineries to produce in the country.
He stated that the Waltersmith modular refinery supported by the board in 2023 alone produced and sold over 170 million litres of petroleum products, amounting to about 3,000 trucks of petroleum products that would have been hitherto imported using the scarce forex.
Speaking during the 12th edition of the Practical Nigerian Content Forum holding in Yenagoa, Bayelsa State on Tuesday, Wabote disclosed that site works for the expansion of the refinery to 10,000bpd refinery had started in September 2023 to have more litres of petroleum products produced in Nigeria.
The 12th edition of the practical Nigerian Contest Forum, which has as its theme: “Deepening Nigerian Content Amidst Divestments, Domestication & Decarbonisation”, drew Stakeholders from oil and gas industry to discuss the progress of the local content in the country.
He said: “Regarding our commercial ventures portfolio, we partnered with Waltersmith to establish a 5,000bpd modular refinery in Ibigwe, Imo State. This year alone, the refinery has produced and sold over 170 million litres or about 3,000 trucks of petroleum products that would have been hitherto imported using our scarce forex. I am pleased to note that site works for the expansion of the refinery to 10,000bpd commenced in September 2023.
“The three (3) other modular refineries are being progressed to completion and start-up. For example, the financial close to get the remaining funding for Azikel Refinery is nearing completion with the great support from AFREXIM bank.
“While Duport Refinery in Edo State is essentially complete, we are looking at the various options and offers before us to bring closure to the partnership in line with our investment policy.”
Minister of State for Petroleum Gas, Senator Heineken Lokpobiri, said the establishment of NCDMB has brought a lot of positive changes in the oil and gas industry.
Speaking through the Permanent Secretary in the Ministry of Petroleum Resources, Amb. Gabriel Aduda, Lokpobiri, the minister stated that Nigeria is committed to foster local content.