Simbi Wabote’s partnership strategy: From Waltersmith to a network of Nigerian refineries | Feature Article
- Lindsey Schlandt
- Oct 1
- 1 min read
GUARDIAN.NG — When Simbi Wabote assumed leadership of the Nigerian Content Development and Monitoring Board (NCDMB) in 2016, he shifted the country’s refining strategy away from reliance on dormant state refineries toward modular, investor-driven projects. His partnership model emphasized targeted equity stakes, technical competence, and clear exit strategies to catalyze private sector efficiency while safeguarding public resources. The first success was a 30% stake in Waltersmith Refining, which delivered Nigeria’s first operational modular refinery in 2020, producing diesel, kerosene, naphtha, and fuel oil for local markets.
Building on that foundation, Wabote expanded NCDMB’s reach into additional modular refineries, large-scale hydro-skimming facilities, and gas and LPG infrastructure across multiple states. By 2023, his portfolio included one fully operational refinery, three others under construction, an 80MMscfd gas plant, and nationwide LPG distribution projects. This network reduced import dependence, created employment, and showcased how public-private partnerships could accelerate Nigeria’s industrial development. Wabote’s legacy lies in proving that government agencies can act as catalysts rather than sole operators in building critical energy capacity.
