Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has been confirmed to lead speakers at the 2nd Nigeria Refining Summit, hosted by the Crude Oil Refinery Owners Association of Nigeria (CORAN).
By drawing together visionaries across the energy spectrum, CORAN 2025 will define a roadmap for Nigeria’s refining sector to deliver energy security, economic prosperity, and regional leadership.
The Summit will unite policymakers, regulators, investors, and operators to chart a path toward transforming Nigeria into a self-sufficient refining powerhouse and a regional fuel supplier of choice.
Despite producing over 1.4 million barrels of crude oil daily, Nigeria spends more than $10 billion annually on fuel imports. The Summit’s mission is to accelerate the shift from dependence to dominance by boosting refining capacity, ensuring sustainable crude supply, and aligning operations with global environmental standards.
Momentum is already building. The Dangote Refinery now runs at more than 70% capacity, while Aradel, Waltersmith, and OPAC modular refineries demonstrate the agility of smaller-scale solutions. With BUA’s 200,000 bpd Akwa Ibom refinery and the rehabilitation of Port Harcourt and Warri plants on track, Nigeria could surpass 1 million barrels per day of refining capacity by 2027 — a milestone that would decisively end fuel import reliance.
“Refining is no longer a national aspiration; it’s a shared mission for Nigeria’s energy future,” said Engr. Momoh Oyarekhua, CORAN Chairman, adding that “by combining the strengths of mega-refineries, modular facilities, and state-owned assets, we will not only achieve self-sufficiency but position Nigeria as the refining hub of Africa.”
The refining sector holds the promise of hundreds of thousands of jobs, new industrial value chains, and billions in GDP growth. With policy support and investor confidence, Nigeria could emerge as West Africa’s leading fuel supplier, serving a market worth over $20 billion annually.
The Summit’s Strategic Dialogue will convene key players to address crude supply bottlenecks, explore fiscal incentives, and foster public-private partnerships. Inspired by global success stories like India’s Jamnagar refinery complex and Indonesia’s expansion drive, participants will craft strategies tailored to Nigeria’s unique strengths and challenges.
