Nigeria’s refining sector is set for a transformative boost as Engr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), leads a powerhouse lineup at the 2nd Nigeria Refining Summit hosted by the Crude Oil Refinery Owners Association of Nigeria (CORAN).
Confirmed speakers include Mrs. Nkechi Obi, Group Managing Director of TechnoOil; Mr. Temi Omatseye, Executive Chairman of Polmaz Logistics and former Director-General of NIMASA; Dr. Ibilola Amao, Principal Consultant at Lonadek Global Services; and Begna Gebreyes, Head of Heavy Industries, Telecoms & Technology at Africa Finance Corporation, alongside other industry heavyweights.
The summit aims to accelerate Nigeria’s journey toward refining self-sufficiency and establish the country as a regional fuel supplier, reducing the over $10 billion spent annually on fuel imports despite daily crude production exceeding 1.4 million barrels.
“With refining no longer a national aspiration but a shared mission, combining the strengths of mega-refineries, modular facilities, and state assets will achieve self-sufficiency and position Nigeria as Africa’s refining hub,” said Engr. Momoh Oyarekhua, CORAN Chairman.
Momentum is growing: Dangote Refinery now operates at over 70% capacity, while modular refineries like Aradel, Waltersmith, and OPAC showcase flexibility. Plans for BUA’s 200,000 bpd Akwa Ibom refinery, alongside rehabilitation of Port Harcourt and Warri plants, could push national refining capacity beyond 1 million barrels per day by 2027.
The summit will provide a strategic dialogue platform to tackle crude supply bottlenecks, explore fiscal incentives, and strengthen public-private partnerships, drawing lessons from global leaders such as India’s Jamnagar refinery complex and Indonesia’s expansion programs.
CORAN 2025 promises to chart a clear roadmap for Nigeria’s refining sector, delivering energy security, economic growth, and regional leadership.