Nigeria’s efforts to expand local fuel production have received a boost as Waltersmith Petroman Oil Limited has begun producing petrol following the expansion of its refinery in Imo State.

The company confirmed that its facility at Ibigwe has increased capacity from 5,000 barrels per day to 10,000 barrels per day after completing its Phase 2 upgrade. With this expansion, the refinery is now positioned to produce petrol as well as aviation fuel, marking a significant step beyond its earlier output.

The development is expected to strengthen domestic fuel supply and reduce Nigeria’s dependence on imports, while also increasing competition in the downstream oil sector where the Dangote Refinery currently plays a leading role.

The upgrade has already attracted attention from regulators. Officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Content Development and Monitoring Board recently inspected the facility to assess its readiness for full commercial operations.

The inspection is part of the final process before the refinery receives its Licence to Operate, with approval expected to be concluded soon.

Waltersmith’s management says the expansion reflects a broader goal of shifting Nigeria from crude oil exports to local refining and value creation.

The company also plans to develop an industrial and innovation park that could host petrochemical and manufacturing companies, supported by gas-powered infrastructure.

The project benefits from strong financial and institutional backing. The Nigerian Content Development and Monitoring Board holds a 30% stake, while funding support also came from the Africa Finance Corporation and the Bank of Industry.

With Waltersmith now entering petrol production, analysts say Nigeria’s refining industry may become more competitive. Increased local output is expected to improve fuel availability, reduce import pressure, and potentially influence market pricing as more domestic refineries come on stream.