Nigeria’s Oil Refining Capacity to hit 1.5mbd by 2025

Nigeria is set to achieve a combined oil refining capacity of 1.5 million barrels per day (mbd) by 2025, according to the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote.

This increase in refining capacity will result from various refinery projects across the country, including the Dangote Refinery, Bua Group Refinery project, Waltersmith Modular Refinery, Duport Midstream Refinery, OPAC Refinery, Edo Refinery, Aradel Holdings Refinery, and the existing Kaduna, Warri, and Port Harcourt refineries. Currently, the existing refineries have a capacity of 445,000 barrels per day.

The expansion of refining capacity to 1.5 mbd will significantly enhance Nigeria’s ability to meet its domestic fuel demand and potentially allow for the export of refined products. Achieving this capacity will be a significant milestone for the country’s energy sector.

In addition to increasing refining capacity, Nigeria is experiencing positive trends in its oil and gas industry, including growth in oil reserves, gas production, gas utilization, and skills acquisition.

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The country’s focus on gas production and utilization, particularly within the “Decade of Gas” program, is expected to lead to a 50% increase in the volume of gas produced and used domestically. This shift toward gas is expected to promote economic development and reduce reliance on crude oil exports, further positioning Nigeria as a gas-powered economy.

These developments are indicative of the country’s commitment to expanding and optimizing its energy sector, which is essential for its economic growth and energy security.