NIGERIA TARGETS 2.6 MILLION BARRELS DAILY REFINING CAPACITY WITH 24 NEW PLANTS

Nigeria is working towards expanding its domestic refining capacity to 2.6 million barrels per day (mbpd) through the development of 24 new refinery projects, according to a report.

The planned expansion is expected to reduce the country’s dependence on imported petroleum products, strengthen energy security, and support local value addition within the oil and gas sector.

Industry stakeholders said increasing refining capacity could help Nigeria maximise the benefits of its crude oil resources, create jobs, and improve the stability of fuel supply across the country.

The projects are part of broader efforts to transform Nigeria from a crude oil exporter that relies heavily on imported refined products into a country with stronger domestic processing capabilities.

Energy experts, however, noted that successful delivery of the projects will depend on factors such as financing, regulatory stability, technical expertise, security of facilities, and efficient project execution.

They added that expanding refinery capacity must be matched with improved infrastructure, transparent operations, and sustainable policies to ensure long-term benefits for the economy.

The development comes as Nigeria continues efforts to revitalise its oil sector, attract private investment, and build a more self-sufficient energy system.