…on commercially viable terms. He said, “At the same time, fuel imports persist while local refining capacity remains underutilised.” Oyarekhua said the pricing template should recognise crude quality, delivery points, avoided international logistics costs and actual domestic evacuation expenses. He also called for clea…

…to legalise artisanal refineries across the Niger Delta region. He argued that local refining capacity – rather than debates over fuel subsidy – remains the key to ending Nigeria’s energy crisis. Speaking during an exclusive interview with our correspondent on Monday, Ndu condemned the persistent destruction of local m…

…called for greater transparency, improved market coordination and policies that support local refining, enhance energy security and maximise the benefits of Nigeria’s investments in domestic refining capacity. Read here: https://punchng.com/dangote-threatens-to-export-petrol-as-imports-rise/ INEC to unveil 2027 governo…

…for investment in domestic refining, pointing to the Dangote Refinery as evidence that local refining was achievable. He urged the government to fix Nigeria's public refineries and stop importing finished petroleum products altogether.He also called on the Federal Government to give its ongoing economic reforms a "huma…

…of vital capital. “Restoring it would instantly sabotage the nascent renaissance of local refining, crush private sector confidence, and plunge the country back into chronic foreign exchange haemorrhage. Nigerians must reject this sordid narrative of regression. “True leadership requires the courage to defend difficult…

…of the subsidy of the past,” Okonkwo said, arguing that Nigeria now had functioning local refining capacity and should therefore use its crude oil resources to bring down the cost of refined petroleum products. According to him, the proposed Atiku Fuel Affordability Plan, AFAP, would ensure that local refineries receiv…

…plans to allocate all of its crude oil production to the domestic market by 2030 as local refining capacity expands.According to a report by S&P Global, Nigeria produced 1.74 million barrels of crude oil per day in June and plans to increase production to 3 million barrels per day by 2030. Nigeria has historically expo…

…for crude, a policy that some other African countries have adopted, has also supported local refining capacity, such that Dangote Refinery has become a net exporter of PMS and aviation fuel. “Manufacturing and industrial companies similarly benefited from improved access to foreign exchange and a more predictable curre…

…long-term growth and energy security.” MEMAN said imports should continue to complement local refining despite improved domestic capacity. It said, “Although domestic refining has significantly reduced Nigeria’s reliance on imported petroleum products, imports will continue to play a complementary role in ensuring supp…

…is that the country’s petrol supply system remains dependent on a combination of local refining and imports. The June data therefore presents a mixed picture: domestic refining received more crude, total petrol supply increased and stock levels improved, but local PMS receipts fell sharply while imports surged. In the…

…domestic consumers, including airlines, are receiving the expected benefits of increased local refining capacity. For passengers, the implication is straightforward: until airlines begin purchasing Jet A1 at prices that reflect global market trends, domestic airfares are likely to remain elevated despite fluctuations i…

…Africa. The proposed Kenyan refinery reflects a growing recognition across Africa that local refining has become increasingly critical to energy security, foreign exchange conservation, and industrial development. For decades, despite producing millions of barrels of crude oil daily, Africa has remained heavily depende…

…stealing crude oil from pipelines and facilities but are also operating sophisticated local refining networks capable of processing and distributing petroleum products on a significant scale. What you should know The latest seizure is part of a broader crackdown by the Nigerian Navy on crude oil theft and illegal refin…