NCDMB’s Wabote on improving Nigeria’s refining capacity

The Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote, recently spoke to CNBC Africa's Christy Cole about the significance of the completed 5,000 barrels per day modular refinery of the WalterSmith Group. This discussion took place on the sidelines of the commissioning of the refinery. Wabote highlighted the progress made in terms of local content development and emphasized the importance of partnering with the private sector to drive economic growth. He noted the board's focus on delivery, citing the successful completion of a 17-story building and a 10-megawatt power plant to support the building's operations. Additionally, the NCDMB is actively involved in the development of six industrial parks aimed at nurturing manufacturing outfits, further contributing to industrialization in Nigeria. Wabote reiterated the board's commitment to advancing the country's refining capacity through strategic partnerships. The completion of the modular refinery is a significant milestone in this journey towards increasing local production and reducing dependence on imported petroleum products. With Nigeria's daily consumption of petroleum products estimated at 65 million liters, the refinery is projected to refine approximately 271 million liters of various products annually, including AGO, NAFTA, Kerosene, and HFO. This output aligns with the government's vision of enhancing modular refining capacity to around 250,000 barrels per day to support domestic oil and gas production. Wabote expressed confidence in the feasibility of modular refineries and highlighted ongoing partnerships with four other modular refinery projects to harness feedstock from oil-producing regions effectively. The board aims to boost modular refining capacity to nearly 80,000 barrels per day by the end of the current administration's tenure, signaling a significant step towards improving Nigeria's self-sufficiency in fuel production and bolstering the local economy.