- The CORAN 2025 Summit will spotlight Nigeria’s refining capacity as an energy security and economic growth catalyst.
- By uniting industry leaders, the summit ensures Nigeria’s refining sector takes centre stage in shaping regional fuel supply.
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has confirmed an impressive line-up of speakers for the 2nd Nigeria Refining Summit. Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), will headline the event. He will share the stage with Nkechi Obi of TechnoOil, Temi Omatseye of Polmaz Logistics, Ibilola Amao of Lonadek Global Services, and Begna Gebreyes of Africa Finance Corporation.
The summit will unite policymakers, regulators, investors, and operators. Together, they will design strategies to make Nigeria a self-sufficient refining hub and a regional fuel supplier. Although Nigeria produces more than 1.4 million barrels of crude oil daily, it still spends over $10 billion each year on imports. Therefore, CORAN’s mission is clear: expand refining capacity, secure crude supplies, and align with global environmental standards.
Progress is already visible. The Dangote Refinery now operates at over 70% capacity. In addition, modular refineries such as Aradel, Waltersmith, and OPAC highlight the strength of smaller-scale projects. Meanwhile, BUA’s 200,000 bpd Akwa Ibom refinery and the rehabilitation of Port Harcourt and Warri plants show further momentum. If successful, Nigeria could exceed 1 million barrels per day of refining capacity by 2027, reducing reliance on imports.
According to CORAN chairman Momoh Oyarekhua, refining is no longer a national aspiration but a shared mission. By combining mega-refineries, modular facilities, and state-owned plants, Nigeria will achieve self-sufficiency and emerge as Africa’s refining hub.
The refining sector promises vast benefits. It can create jobs, expand industrial value chains, and boost GDP by billions. Furthermore, with the right policies and strong investor confidence, Nigeria could lead a regional fuel market worth more than $20 billion annually.
Ultimately, CORAN 2025 is more than a conference. It catalyses transformation, driving energy independence, economic growth, and regional leadership in refining.