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Local government

Waltersmith Petroman Company Unveils Industrial Park Plans to Boost Nigeria's Economy

Strategic Insights

— 1 min read

Waltersmith Petroman Company, a Nigerian oil company, has announced plans to establish an industrial park in the Ohaji/Egbema local government area of Imo state. The industrial park, to be developed with the support of the United Nations Industrial Development Organisation and the United Nations Economic Commission for Africa, aims to attract petrochemical, pharmaceutical, research, and other light manufacturing companies that rely on the hydrocarbon value chain. The park will offer world-class infrastructure and a dry dock, making it an attractive location for international businesses.

Key Takeaways:

  • The industrial park is expected to create employment opportunities for the trainees and the surrounding communities, with potential jobs in the refinery sector.
  • The park will be developed in phases, with the first phase focusing on infrastructure development and the second phase on attracting investors and establishing businesses.
  • Waltersmith has committed to implementing Memorandum of Understanding (MoU) with its host communities, unlike other oil companies operating in the area.
  • The company has promised to invest in corporate social responsibility initiatives, including road construction, school building, and recreational facility development, in line with the Imo state government's 3R agenda.
  • The industrial park will have a dry dock and free trade zone, making it a unique attraction for international businesses.
  • The park is expected to contribute to the socio-economic development of Imo state and Nigeria as a whole, through job creation, infrastructure development, and increased economic activity.

Statistics:

  • The industrial park is expected to attract petrochemical, pharmaceutical, research, and other light manufacturing companies.
  • The park will be developed with the support of the United Nations Industrial Development Organisation and the United Nations Economic Commission for Africa.
  • The park will offer world-class infrastructure, including a dry dock and free trade zone.
  • Waltersmith has promised to invest in corporate social responsibility initiatives, including:

+ Road construction.

+ School building.

+ Recreational facility development.

Sources:

  • Speech by Mr. Chikezie Nwosu, Chief Executive Officer of Waltersmith Petroman Company, at the closing ceremony of Waltersmith Technical Skills Acquisition Programme, 2021.
  • Speech by Hon. Goodluck Nana Opia, Special Adviser/ Coordinator of Oil and Gas to Imo State Government, at the closing ceremony of Waltersmith Technical Skills Acquisition Programme, 2021.
  • Speech by Mrs. Eriye Onagoruwa, External Affairs and Government Relations Manager of Waltersmith Petroman Company, at the closing ceremony of Waltersmith Technical Skills Acquisition Programme, 2021.

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