Nigeria's push for local fuel production has received another major boost as Waltersmith Petroman Oil Limited prepares to begin petrol refining after expanding its refinery capacity in Imo State. The development positions Waltersmith as one of the growing local players expected to reduce Nigeria's dependence on imported petroleum products and increase competition in the downstream sector, where the Dangote Refinery has remained the dominant force.
Expansion to 10,000 bpd Completed
The company on Monday, April 27, 2026, announced that its refinery capacity has now increased from 5,000 barrels per day (bpd) to 10,000 bpd following the completion of its Phase 2 expansion project at Ibigwe, Imo State. This expansion marks a significant milestone for the company and for Nigeria's refining industry.
New Products: Petrol and Aviation Fuel
With the expansion, Waltersmith is set to introduce Premium Motor Spirit (PMS), commonly known as petrol, as well as Aviation Turbine Kerosene (ATK), widening its product offerings beyond its previous output. This means the refinery will now serve both road transportation and the aviation sector, helping improve domestic fuel supply and easing pressure on imports. The company said the move supports Nigeria's broader ambition of shifting from a crude oil export-driven economy to one focused on local refining, industrial value creation, and stronger energy security.
Regulatory Inspection Nears Completion
The milestone 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). The delegation, led by the NMDPRA Chief Executive, Engr. Saidu Mohammed, visited the Phase 2 facility to assess operational readiness and compliance with regulatory standards before the issuance of a Licence to Operate (LTO). According to the company, regulatory approval is now nearing completion, making full commercial operations of the expanded refinery imminent. Mohammed praised the achievement, describing it as proof that Nigerians have the technical capacity to lead major investments in the country's midstream oil sector.
“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,” he said.
Waltersmith Targets Bigger Industrial Growth
Chairman of Waltersmith, Abdulrazaq Isa, said the refinery expansion represents more than increased production, stressing that it reflects Nigeria's transition toward sustainable industrial development. He explained that local refining, upstream integration, and infrastructure development are key to building long-term economic growth. “We are moving Nigeria beyond an extractive oil economy to one focused on value creation,” Isa said.
Beyond refining, the company also plans to establish the Waltersmith Industrial and Innovation Park, a Free Trade Zone supported by gas-to-power infrastructure. According to multiple reports, the project is expected to attract petrochemical and manufacturing companies while supporting Nigeria's “Decade of Gas” strategy.
Strong Partnerships Behind the Expansion
A major part of the project's strength lies in its partnerships. The NCDMB holds a 30 per cent equity stake in the refinery, while funding support also came from the Africa Finance Corporation (AFC) and the Bank of Industry (BoI). Officials said the collaboration has created jobs, strengthened local content development, and improved Nigeria's ability to reduce fuel import dependence. As Waltersmith moves closer to full petrol production, industry watchers believe Nigeria's refining landscape may be entering a new phase—one where local competition could reshape fuel supply and pricing across the country.
In related news, Legit.ng earlier reported that Aliko Dangote, President of Dangote Group, has announced plans to employ up to 95,000 skilled workers at the peak of construction as the company expands its refinery capacity to 1.4 million barrels per day (bpd). The refinery, which currently has a capacity of 650,000 bpd, is expected to be scaled up to 1.4 million bpd over the next three years.
