Storage tanks at Dangote oil refinery in Nigeria
Nigeria poised for refining renaissance
The country is set to end a lengthy period in the doldrums with the launch of several small facilities
Nigeria remains reliant on imports to satisfy refined product demand despite being one of Africa’s top oil producers. While downstream capacity has been underutilised for a long time, the situation worsened when state-owned NNPC took its full 445,000bl/d slate offline in 2019 for long-overdue rehabilitation. At present, the 5,000bl/d modular unit developed by Nigerian independent Waltersmith Petroman at Ibigwe is the country’s only operational refinery. But with recent progress on ambitious downstream development plans, Nigeria hopes to usher in an era of fuel independence and, eventually, exports. Six new modular refineries are expected to begin commissioning within the next few months. The
Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
