Dangote refinery not enough, Nigeria needs more investors — Minister

Minister Heineken Lokpobiri of Nigeria's Petroleum Resources emphasized that the Dangote Refinery alone is insufficient to meet Africa's growing demand for refined petroleum products. Speaking at the second West Africa Refined Fuel Market Conference in Abuja, Lokpobiri urged both local and international investors to increase their capital investments in Nigeria's refining, midstream, and downstream sectors.

He stressed that Nigeria, with its strategic location and expanding energy market, is well-positioned to serve both regional and international markets. The minister called for greater investment in the midstream and downstream sectors to transition beyond exporting raw commodities and importing processed products. He also highlighted the need to develop a transparent regional pricing system for refined petroleum products to create a more integrated regional market.