Jobs/Appointments
FG Expects 500,000 Jobs from Waltersmith Refinery
By Adedapo Adesanya
Imo State-based 5,000 barrels per day Waltersmith modular refinery looks set to provide 500,000 oil downstream sector jobs, according to the federal government.
The Minister of State for Petroleum Resources, Mr Timpre Sylva, while speaking at the official launch of the refinery, said this will reduce the rate of unemployment in the country.
He also stated that the project is part of efforts to gradually reduce the importation of petroleum products into the country with the support of the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR).
Waltersmith’s refinery, perhaps the first to commercially take-off in the country, is part of Nigeria’s efforts to reduce costs associated with fuel importation; augment local refining capacity of petroleum derivatives; establish Nigeria as a regional refining hub; and spur direct and indirect job creation through the downstream industry.
With a crude oil storage capacity of 60,000 barrels, Waltersmith modular refinery at Ibigwe Field, Ohaji Egbema council area of Imo State is expected to produce approximately 271 million litres of refined petroleum products annually, including diesel (AGO), kerosene (DPK), heavy fuel oil (HFO) and naphtha.
This first 5,000 barrels per day module will later be followed by 25,000 barrels per day and 20,000 barrels per day modules, which will enable the production of petrol, aviation fuel (Jet A1) and liquefied petroleum gas (LPG).
Waltersmith Petroman Oil Limited had signed an engineering, procurement and construction (EPC) contract in June 2018 with Houston-based VFuels V-fuels and Lambert Electromec. Construction of the modular refinery began in October of the same year and delivered in less than 24 months. The official commissioning earlier planned for May this year was postponed as a result of the COVID-19 health protocols.
At the commissioning yesterday, President Muhammadu Buhari ordered the NNPC and DPR to provide crude supplies to Waltersmith and other modular refineries in the country to enable them to operate optimally.
Mr Buhari equally directed all other relevant agencies in the nation’s oil industry to ensure they do not starve the modular refineries of all their required resources, including condensate, to operate.
According to him, modular refineries represent four key policy roadmaps rolled out by his administration in 2019 to reduce importation of petroleum products. He expressed delight to commission the refinery, describing it as the largest modular refinery in Nigeria to date.
He said the refinery forms an important part of the economic reform which the country is currently undergoing, saying that the refining plant had already created thousands of direct and indirect jobs in the downstream subsector.
Also speaking at the event, the chairman of Waltersmith Group, Mr Abdulrazaq Isa, stated that, “The first module being commissioned today is 5,000 barrels per day, BPD, refining capacity. We are looking at 50,000 barrels per day refining capacity that will come with the planned additional two modules; 25,000 barrels per day and 20,000 barrels per day refining capacity respectively, which will then add PMS, aviation fuel and LPG to the product slates.”
On his part, the Governor of Imo State, Mr Hope Uzodinma, appealed to the federal government “not to kill this refinery by starving it of raw materials.” He said his administration would do everything within his powers to protect the investment.
It was gathered that the bulk of crude oil supply for this refinery would come from Waltersmith’s upstream business with backup from Oil Mining Lease (OML) 53 (Ohaji South) Seplat/NNPC Joint Venture (JV), third party crude currently processed at Waltersmith Ibigwe Flowstation and additionally from the 2020 Marginal Fields Bid Round for a nearby asset.
By Aduragbemi Omiyale
The board of Fortis Global Insurance Plc has been strengthened with two new additions, with Mr Umar Faruk Umar appointed as an independent non-executive director and Mr Ufuoma Ibru as a non-executive director.
A statement signed by the company secretary, Ms Halima Jimada, disclosed that the appointments followed the approval of the National Insurance Commission (NAICOM), an agency that regulates the insurance sector in Nigeria.
The board expressed optimism that the new directors will bring their wealth of experience to bear in driving the growth and expansion of the business, and that the company will be further strengthened by their valuable contributions.
Mr Umar is an accomplished educationist, public servant and corporate director with over 40 years of professional experience, including over 30 years of board and corporate governance experience.
He holds a PhD in Educational Psychology from the University of Wisconsin, USA. He has also undertaken executive education and corporate governance programmes at Harvard University, Stanford University and INSEAD.
He has held senior positions in the public and private sectors and previously served on the boards of Ashaka Cement Plc, CCNN Plc and NAHCO Plc, where he chaired and served on various board committees, including Audit, Risk Management, Governance, Finance and Establishment.
He currently serves on the Boards of GTL Registrars Limited and the Nigerian Capital Market Development Fund. His extensive experience in corporate governance, risk management, finance and strategic oversight will bring significant value to the Board in his capacity as an independent non-executive director.
On his part, Mr Ibru is a legal practitioner and an experienced non-executive director with extensive professional and board experience in the hospitality, tourism and financial services sectors. He has served on the boards of Ikeja Hotel Plc, The Tourist Company of Nigeria Plc and Icon Stockbrokers Limited.
He holds a Bachelor of Law from the University of Oxford, and was called to the Nigerian Bar in 2003. He also holds a Bachelor of Engineering in Mechatronic Engineering from the University of London.
Mr Ibru has significant experience in corporate governance, strategic management, legal and regulatory matters, investment transactions and stakeholder engagement.
He brings to the board a strong combination of legal, commercial and corporate governance expertise, which will support the effective discharge of his responsibilities as a non-executive director.
By Adedapo Adesanya
Heirs Life Assurance, a specialist life insurance company owned by Nigerian business mogul, Mr Tony Elumelu, has appointed Pastor Jerry Eze as an Independent Non-Executive Director on its Board, effective August 10, 2026.
The appointment reinforces Heirs Life Assurance’s commitment to expanding financial inclusion and accelerating insurance adoption by strengthening public trust, consumer education, and long-term financial resilience across Nigeria.
Nigeria, despite being Africa’s largest economy, continues to record insurance penetration of less than one per cent, ranking among the lowest globally and underscoring the need to deepen financial protection and strengthen public confidence in insurance. As Heirs Life advances its goal of making insurance more accessible to Nigerians, the appointment of the preacher is expected to bring valuable insight in community engagement, values-driven leadership and initiatives with wider social impact.
Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a growing multinational ministry with 34 branches across West Africa, Southern Africa, Europe and North America. He is also the convener of the New Season Prophetic Prayers and Declaration (NSPPD), one of the world’s largest digital prayer platforms, reaching millions of people daily. Through his ministry and humanitarian initiatives, he is regarded as one of Africa’s most influential voices, championing hope, compassion, and community transformation.
Beyond ministry, the clergyman is the Founder of the Jerry Eze Foundation, a faith-led philanthropy where he provides housing support and grants to vulnerable and underserved communities.
In 2026, he announced N1 billion in grants to support young entrepreneurs across agriculture, technology, and manufacturing, further advancing enterprise development and economic opportunity.
Before entering full-time ministry, Pastor Jerry Eze built a career in development communications, serving as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA). He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.
Speaking about the appointment, Mr Elumelu, Chairman, Heirs Life Assurance, said, “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities. As we continue our mission to democratise access to insurance, his insight will help strengthen consumer trust, deepen financial inclusion, and reinforce our commitment to protecting the financial future of millions of Nigerians. We are delighted to welcome him to the Board of Heirs Life Assurance and the broader family of Heirs Insurance Group.”
Commenting on his appointment, Pastor Jerry Eze said, “I am honoured to join the Board of Heirs Life Assurance at a defining moment for the insurance industry. Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience. I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”
By Aduragbemi Omiyale
The conclusion of the 2025 Performance Appraisal Exercise of Abuja Electricity Distribution Company (AEDC) has resulted in the promotion and step increments of about 1,126 employees of the organisation.
The reward for performance involved the promotion of 547 employees and 579 step increments, reaffirming the company’s unwavering commitment to recognising excellence, rewarding performance and building one of Africa’s most admired workplaces.
AEDC disclosed that these actions reflect its deliberate investment in its people as the energy firm accelerates its transformation into a customer-centric, high-performing electricity distribution company with global standards and Pan-African aspirations.
The promotions and step increments, approved by the management, recognise employees who have demonstrated exceptional commitment, professionalism and outstanding performance in advancing AEDC’s strategic objectives.
However, employees who were not successful in the current appraisal cycle have been urged to remain committed, emphasising that the performance management process is designed to support continuous growth, capability development and future advancement opportunities.
“Our people remain our greatest asset and the foundation upon which AEDC’s future will be built. Today’s announcement is more than a reward for performance; it is a reaffirmation of our belief that excellence should always be recognised, talent should be nurtured and hard work should create opportunities for growth.
“As we continue our transformation journey, we are building an organisation where our employees can develop rewarding careers, realise their full potential and proudly contribute to creating one of Africa’s leading electricity distribution companies,” the chief executive of AEDC, Mr Chijioke Okwuokenye, stated.
He added that AEDC is intentionally creating a workplace where merit, continuous learning, innovation and collaboration drive career progression, while employee wellbeing remains central to its long-term strategy.
