Nigeria to Build World-Class Refinery to Boost Domestic Production
Clarivo Oil Ga Ltd CEO, Obidik Chukwuebuka, revealed plans to construct a state-of-the-art oil refinery in Nigeria, set to be operational within five years pending regulatory approvals. The refinery will incorporate advanced technologies to produce high-quality petroleum products, addressing Nigeria's historical challenges of costly imports despite being a major crude producer.
The project will involve collaboration with foreign technical partners and investors, aiming to enhance local employment opportunities. This initiative follows Dangote Group's $350 million engineering contract in India to expand its Lekki refinery, doubling Nigeria's total refining capacity upon completion.
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