Domestic refinery operators in Nigeria have declared their readiness to significantly reduce, and potentially end, the country’s dependence on imported petrol, citing improved local refining capacity, Peak Newspaper reports.
The refiners, including the Dangote Petroleum Refinery, said ongoing production and planned scale-up would be sufficient to meet domestic demand, marking a major shift in Nigeria’s downstream oil sector.
Industry stakeholders disclosed that the Dangote Refinery, alongside other modular and state-backed refineries, is positioning to supply the local market consistently, reduce foreign exchange pressure and stabilise fuel availability nationwide.
They noted that increased local refining would also lower logistics costs associated with importation, enhance energy security and create more jobs across the value chain.
The development aligns with the Federal Government’s push for self-sufficiency in petroleum products and comes amid reforms aimed at liberalising the oil and gas sector.
Analysts say if sustained, the move by domestic refiners could significantly cut petrol imports, conserve foreign exchange and reposition Nigeria as a net exporter of refined petroleum products in the region.
