The Nigerian Federal Government has expressed its commitment to supporting the Dangote Refinery in achieving its target of producing 1.4 million barrels of refined products per day. Minister of State for Petroleum Resources, Heineken Lokpobiri, made this announcement during the 19th Africa Downstream Energy Week in Lagos. The refinery’s expansion plan is seen as a significant milestone for Africa’s energy independence and a validation of the government’s policy direction under President Bola Ahmed Tinubu.
The removal of fuel subsidies and the liberalization of the downstream petroleum sector are key policy decisions aimed at creating a viable environment for private sector investment. According to Lokpobiri, these policies have led to a more stable and competitive petroleum products market, with prices stable, availability improved, and products more accessible and affordable. The minister emphasized that the government’s commitment to deepening investment in the oil and gas sector is crucial, as the global conversation on energy transition recognizes the continued importance of hydrocarbons.
Lokpobiri cited recent United Nations reports, which indicate that the world needs to invest approximately $540 billion annually in oil and gas recovery and related infrastructure to meet growing energy demand and ensure global energy security. He stressed that discussions on climate change and net-zero emissions remain relevant, but the realities of global population growth and consumption patterns make it clear that hydrocarbons will continue to play a central role for decades to come.
Adetunji Oyebanji, Chairman of the Advisory Board of OTL Africa Downstream Energy Week, called for renewed collaboration, policy consistency, and innovation to drive Africa’s energy sustainability and competitiveness. He emphasized the need for Africa to look beyond conventional limits and create an energy future anchored on integration, inclusiveness, and responsible growth. The conference underscored the importance of building an industry that is competitive, responsible, and adaptable to a rapidly changing global environment.
The deregulation of the downstream petroleum sector, renewed focus on gas commercialization, and expanding infrastructure have laid a foundation for long-term growth in Nigeria. However, sustained progress depends on policy stability, regulatory transparency, and institutional consistency. Oyebanji noted that the future of energy lies in integration, bridging hydrocarbons, renewables, and alternative energy sources, to create a system that promotes both growth and environmental responsibility. The Nigerian government’s support for the Dangote Refinery and its commitment to investing in the oil and gas sector are significant steps towards achieving energy sustainability and security in Africa.