Dangote refinery not enough for African market – FG

The Federal Government of Nigeria has expressed concern that the Dangote Petroleum Refinery alone cannot meet the refined petroleum products demands of the African continent. Minister of State for Petroleum Resources, Heineken Lokpobiri, urged local and international investors to pour more capital into Nigeria's refining, midstream and downstream sectors to expand the country's capacity and move beyond supplying the West African market.

At the second West Africa Refined Fuel Market Conference, Lokpobiri emphasized that Nigeria must become a major hub for refined petroleum products across the continent. He highlighted the need for a transparent regional pricing system for refined petroleum products, arguing that Nigeria's strategic location offers a significant advantage by not being dependent on the Strait of Hormuz for crude and petroleum product supply routes.

The minister called for investors to seize the opportunity presented by Nigeria's expanding energy market, emphasizing the importance of developing a sustainable pricing mechanism to encourage investment while allowing market forces to determine petroleum product prices.