Nigeria Urges Investment Beyond Dangote Refinery Capacity

The Federal Government of Nigeria has asserted that the Dangote Petroleum Refinery alone is insufficient to satisfy the continent's growing demand for refined petroleum products. Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), made this statement during the second West Africa Refined Fuel Market Conference held in Abuja on Tuesday.

He urged local and international investors to invest more in Nigeria's refining, midstream, and downstream sectors to enhance the country's position as a major hub for refined petroleum products in Africa. Lokpobiri noted that even with an increased capacity of 1.4 million barrels per day, the Dangote refinery would not meet the continent's needs.

He called for a shift from exporting raw commodities to developing domestic processing capabilities and highlighted Nigeria's strategic location as advantageous for attracting investment. The conference aimed to promote a transparent regional pricing system for refined petroleum products.