Mr Simbi Wabote, Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), says Nigeria is targeting an increase in its domestic refining capacity to 1.4 million barrels per day within the next five years.
Wabote made this known while delivering a keynote address titled: “Competitive Landscape and Sustainable Development of In-Country Value Addition” at the 2022 Nigeria International Energy Summit, on Wednesday, in Abuja.
He said: “President Muhammadu Buhari rolled out the Refining Roadmap which has four areas of focus.
“Rehabilitation of existing four national refineries, co-location of new refineries, construction of greenfield refineries and construction of modular refineries.
“Combined refining capacities of more than 1.4 million barrels per day is expected from these focus areas within the next five years.
“About 400,000bpd is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and Kaduna using target performance of not less than 90 per cent of name plate capacity.
“The mechanically complete Dangote Refinery in Lagos and the BUA Refinery in Akwa Ibom States are expected to deliver refining capacity of 650,000bpd and 200,000bpd respectively.”
According to him, in the aspect of modular refineries, NCDMB is serving as a catalyst to enhance realisation of the refining roadmap.
He said the board’s partnership with Waltersmith resulted in the delivery of 5,000bpd modular refinery in Imo State.”
Next in view is the 2,500bpd Duport Modular Refinery located in Edo State due for commissioning by Quarter Two this year.
“Others under construction are the 2,000bpd Atlantic Refinery and the 12,000bpd Azikel Hydro-skimming Refinery both in Bayelsa State.
“As we get closer to the realisation of this scenario, it enables us to see oil as a resource rather than a commodity for trading.
“It means value addition to this resource for the production of other items and consumables.
“A barrel of oil utilised as a resource generates multiple products that are utilised in transportation, construction, aviation, agriculture, and others,” he said. (NAN)