Hallo Santanu,
There is no slab decomposition, and I believe there is no direct solution to your exact issue in Basilisk. However, you could consider the following suggestions to not be bounds to the 8^i requirement.
1) The octree can run with an arbitrary number of processors. It can also run in "fixed-grid" mode, mimicking the Multigrid, with only a speed and memory-usage penalty.
2) If you are willing to change the resolution , you may be able to find decompositions with n^3 processors. e.g. for 3^3 = 27 processors you can set N = 96 = 3*32
dimensions (nx = 3, ny = 3, nz = 3);
init_grid (3*32);
3) If you are willing to vary the dimensions (aspect ratio) of the domain, you may be able to tune even more. see,
Antoon