By John Ikani
The Nigeria Content Development and Monitoring Board (NCDMB) has disclosed plans for the commencement of operations for three additional Modular refineries in the country by the year 2024.
Executive secretary of the board, Engr. Simbi Wabote, shared the promising development during the opening ceremony of the 12th edition of the Practical Nigerian Content Forum at the Nigeria Content Tower in Yenagoa, the Bayelsa State capital.
The theme of the event is ‘Deepening Nigerian Content Amidst Divestment, Domestication, and Decarbonisation.’
Highlighting an existing collaboration, Wabote mentioned the board’s partnership with a local refinery, Waltersmith, to establish a 5,000bpd modular refinery in Ibigwe, Imo State.
He further revealed the successful initiation of production in one modular refinery, stressing its noteworthy accomplishment of selling over 170 million litres or approximately 3,000 trucks of petroleum products this year alone, a significant reduction in the need for scarce forex to import such products.
In addition, Wabote unveiled progress on three other modular refineries nearing completion. They include the Azikel Refinery, receiving support from AFREXIM bank, the Dupont Refinery situated in Edo State, and the jetty and FAT for the Inside Battery Limit (ISBL) of the Atlantic Refinery modular refinery.
He said, “While Dupont 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. The jetty and the FAT for the Inside Battery Limit (ISBL) of the Atlantic Refinery modular refinery have been completed. We are now focused on taking delivery of the ISBL while exploring all the options open to address the funding challenges hindering the completion of the project.
Addressing advancements in gas utilization, Wabote detailed a partnership that facilitated the utilization of a segment of the OB-3 pipeline.
According to him, “The collaboration resulted in the commissioning of the NEDO Gas plant, injecting lean gas into the gas pipeline infrastructure.
“Notably, this partnership not only opens export opportunities for gas operators within the Kwale axis but also contributes to the reduction of gas flaring.”
Other Noteworthy partnership
“Other active sites under our partnerships with local businesses include Butane Energy for LPG storage and distribution in 10 northern states, Bunorr for the production of base oil, Eraskon for lube oil blending plant, and Triansel for construction of LPG Terminal and 5,000MT storage tank.
“We have commenced discussions on key steps required to cure the issues around the partnerships. Under the roadmap initiatives, we challenged ourselves to move from the 27th position in 2019 on the ease of doing business ranking from MDAs to the 1st position last year and still maintained this position this year.
“The portfolio of Nigerian Content Intervention Funds being managed by BOI and NEXIM Bank has grown to $500 million) with various product offerings for asset acquisition, project finance, manufacturing, and others.
“On the construction of additional NOGAPS industrial parks, we currently have eight in our portfolio including the two planned to commence operations next year. The other six are in Akwa Ibom, Imo, Ondo, Delta, Edo, and Abia states which are at various stages of engineering design and site preparation works.”