None
EN
Nigeria’s Refining Capacity Still Not Enough, Even With Dangote—Lokpobiri
['Nse Anthony-Uko Is A Business', "Financial Journalist With Over Two Decades Of Experience Covering Nigeria'S Financial System", 'Economy', 'Energy Sector', 'Corporate Landscape', 'Global Economic Developments. Her Expertise Blends Frontline Journalism With Editorial Leadership', 'A Strong Grasp Of Financial Market Dynamics. She Has Earned Multiple Professional Recognitions', 'Was Selected For The International Visitors Leadership Programme', 'Ivlp', 'In The United States.']
Leadership Newspapers
…Calls for fresh investments, new refineriesThe minister of state for Petroleum Resources (Oil), Heineken Lokpobiri, has renewed calls for fresh investment in Nigeria’s midstream and downstream oil sector, saying local refining capacity still trails market demand despite recent gains.
The event, themed around funding infrastructure and distribution to build a transparent regional fuel market, drew regulators, industry executives and other stakeholders from across West Africa.
Figures from NMDPRA’s latest sector report show petrol supply to the domestic market slipped from 41.5 million litres per day in May to 32.45 million litres per day in June, with Dangote Refinery accounting for 32.5 million litres per day of that supply out of its 39.1 million litres per day total output.
Even so, national petrol consumption rose to 47.4 million litres per day in June, up from 46.3 million litres per day the previous month.
NUPRC chief executive Oritsemeyiwa Eyesan pointed to rising output — now 1.6 million barrels per day, in line with Nigeria’s OPEC quota — and called for West African countries to integrate their markets rather than operate in silos.