Nigeria is targeting full local refining of all crude oil it produces by 2030, as the Federal Government pushes to strengthen domestic refining capacity and cut reliance on imported petroleum products.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed the target during discussions on Nigeria’s refined petroleum products market and the country’s ambition to become a major refining hub in Africa.
The move is expected to reshape Nigeria’s petroleum industry by ensuring more locally produced crude is processed within the country rather than shipped abroad for refining.
The target comes as Nigeria records increased refining activity, with existing and emerging refineries set to boost domestic supply of petrol, diesel and other refined products.
The government’s strategy is also designed to strengthen energy security, create jobs, retain more value from the country’s crude resources and position Nigeria as a leading supplier of refined petroleum products to other African markets.
At a recent refined fuel market conference in Abuja, stakeholders stressed the need for adequate refining capacity, reliable crude supply, efficient logistics and supportive regulatory policies to achieve the country’s refining ambitions.
NMDPRA has also been working with industry stakeholders and regional partners to deepen the West African refined fuel market and build a more integrated petroleum trading system.
With Nigeria pushing to refine all domestically produced crude by 2030, authorities believe the country can shift from heavy dependence on imported refined products to becoming a net supplier of fuels within Africa.
The target forms part of broader efforts to maximise the value of Nigeria’s petroleum resources and strengthen the downstream sector of the economy.
hitting the 2030 target will depend largely on sustained operation and expansion of existing refineries, completion of planned facilities, availability of crude for domestic processors, and development of efficient petroleum distribution infrastructure.
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