A professor of Business Administration and Management at Wellspring University, Benin, Patrick Ohikhena, has called for the integration of so-called illegal refineries into Nigeria's oil industry. He argued that these operations should be encouraged as part of efforts to promote local solutions, noting that their products contribute to the national supply of petroleum products and create employment for neighboring communities, thereby reducing poverty among producers and consumers.
Ohikhena made this statement during the weekend at the 3rd Inaugural Lecture of the university, titled "From Nigeria's Entrepreneurship Wilderness Experience to Wealth: Overcoming the Five Keys of Retardation Forces." He identified several key retardation forces, including the re-enactment of Taylorism, the need to embrace digital technology, the double-edged nature of Artificial Intelligence (AI) and robotics, and the dangers of "ghettoising" uneducated third-world workers. He argued that instead of addressing local refiners in derogatory terms, stakeholders should collaborate with them to ensure a steady supply of affordable, locally refined petroleum products.
Waltersmith Expands Refinery Capacity
Meanwhile, Waltersmith Petroman Oil Limited has achieved a major milestone in Nigeria's push for energy self-sufficiency. The company announced the successful expansion of its refinery capacity to 10,000 barrels per day (bpd), a development expected to strengthen domestic refining and reduce dependence on fuel imports. The achievement came into focus 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 located in Ibigwe.
The project is backed by a blend of private and institutional financing, including support from the Africa Finance Corporation (AFC) and the Bank of Industry (BoI). This underscores the growing viability of public-private partnerships in delivering large-scale energy infrastructure. Looking ahead, Waltersmith plans to deepen its footprint beyond refining with the development of the Waltersmith Industrial and Innovation Park, a Free Trade Zone anchored on gas-to-power infrastructure. The initiative is expected to attract petrochemical and manufacturing investments, aligning with Nigeria's "Decade of Gas" agenda and broader industrialisation goals.
The delegation, led by NMDPRA's Chief Executive, 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 critical player in Nigeria's domestic refining drive.
