Federal Government of Nigeria has approved the construction of three new refineries

The Federal Government of Nigeria has approved the construction of three new refineries to address its local demand for refined petroleum.

The report states that the three licensed refineries will add approximately 140,000 barrels per day to the existing production, raising the total expected output to 880,000 barrels per day.

Domestic refineries in Nigeria, including the Dangote Refinery, have a combined refining capacity of approximately 740,000 barrels per day (bpd), with the Dangote Refinery alone having a capacity of 650,000 bpd.

Here are the names and outputs of the approved refineries:

– Eghudu Refinery Limited, Edo State, with an output of 100,000 barrels per day.

-MB Refinery and Petrochemicals Company Limited, Delta State, with an expected output of 30,000 barrels per day.

-HIS Refining and Petrochemical Company Limited, Abia State, with an output capacity of 10,000 barrels per day.

Furthermore, with this recent development, Nigeria can now boast of 14 modular and regular refineries, which is a significant addition to the nation’s refining capacity.

In my opinion, if more modular refineries are approved, it will reduce bunkering and other irregularities in the midstream and downstream sectors, similar to the nation’s efforts in the mining sector, where approximately 300 illegal miners have been rehabilitated and legalized under the laws governing the nation’s natural resources.

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