- Nigeria Refining Summit highlights how Dangote Refinery and modular refineries like Aradel and Waltersmith showcase flexible solutions.
- The upcoming projects, including the 200,000 bpd BUA refinery and plant rehabilitations, could end imports by 2027.
The Nigeria Refining Summit, organised by the Crude Oil Refinery Owners Association of Nigeria (CORAN), will bring together policymakers, regulators, investors, and operators to accelerate Nigeria’s refining transformation. The event will stress the urgent need to end costly fuel imports.
Furthermore, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive, Farouk Ahmed, will deliver a keynote address. TechnoOil’s Group Managing Director, Nkechi Obi, and Polmaz Logistics Executive Chairman, Temi Omatseye, will feature. Dr Ibilola Amao of Lonadek Global Services and Begna Gebreyes of Africa Finance Corporation will also share insights.
The summit aims to reposition Nigeria as a self-sufficient refining powerhouse and a dependable regional fuel supplier. Transitioning from dependence to dominance requires higher capacity, sustainable crude supply, and alignment with global standards.
Although Nigeria produces more than 1.4 million barrels of crude daily, it still spends $10 billion yearly on imports. Thus, the Nigeria Refining Summit will provide an important platform to close this gap and secure national energy independence.
In addition, momentum continues to grow as Nigeria could exceed one million barrels daily in refining capacity within two years. As a result, this milestone would transform Nigeria into Africa’s refining hub while boosting investor confidence.
CORAN Chairman, Momoh Oyarekhua, emphasised that refining is no longer a vision but a collective duty. Hence, Nigeria can achieve energy security and regional leadership by combining mega-refineries, modular facilities, and state-owned plants.
Finally, industry experts believe refining expansion could create thousands of jobs, stimulate industries, and strengthen GDP growth. With supportive policies and investor trust, Nigeria will dominate West Africa’s $20 billion fuel market.