• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Local Refining Surge To Make Nigeria Net Petroleum Exporter By 2027– PETROAN

by Nse Anthony - Uko
3 months ago
in Business
PETROAN
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria is on track to become a net petroleum exporter within two years, driven by a surge in local refining capacity, according to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).

Advertisement

This projection follows the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) milestone of licensing 83 refineries, with a combined total refining capacity exceeding 1.1 million barrels per day.

The breakdown of the licenses includes, 8 refineries with Licenses to Operate (LTO), 30 refineries with Licenses to Construct (LTC) and 45 refineries with License to Establish (LTE)

The national president of PETROAN, Dr. Billy Gillis Harry, emphasised the importance of making crude oil available for local refineries, stating that if these refineries must remain in business, adequate provision must be made for sufficient volume of crude oil to be set aside for them.

Dr. Harry highlighted two key benefits of making crude oil available for local refineries which include increased domestic production of petroleum products, thereby reducing reliance on imported products and conserving foreign exchange.

RELATED

CBN Grants RoutePay Licence To Provide Digital Payment Solutions

CBN Imposes $50 Charge On Non-Resident BVN

3 minutes ago
Why We Are Investing In Critical Infrastructure – Mbah

Enugu Air Will Be For Traders, Enugu People – Mbah

6 minutes ago

The other is creation of jobs and stimulation of economic growth, as local refineries would be able to operate at optimal capacity and contribute significantly to Nigeria’s GDP.

The expansion includes major projects such as the Dangote Refinery and the rehabilitation of state-owned facilities in Port Harcourt, Warri, and Kaduna, alongside several modular refineries. Industry forecasts suggest that by 2025, Nigeria’s total refining capacity could reach 1.5 million barrels per day, positioning the country as Africa’s largest oil refiner and significantly reducing its reliance on imported petroleum products.

He highlighted that increased domestic refining will not only conserve foreign exchange but also create jobs and stimulate economic growth.

Recent data shows a sharp decline in petrol imports, dropping from 44.6 million litres per day in August 2024 to 14.7 million litres per day by April 2025, underscoring the impact of local refining initiatives. With ongoing regulatory support and investor confidence, PETROAN believes Nigeria is poised to transition from an importer to a net exporter of petroleum products, reshaping its economic landscape.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN)
SendShareTweetShare
Previous Post

Exchange Rate Volatility Affects Trade Patterns As Customs Generates N1.75trn

Next Post

IMF Lowers Nigeria’s 2025 Growth Forecast To 3.0% On Weakening Oil Price

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

CBN Grants RoutePay Licence To Provide Digital Payment Solutions
Business

CBN Imposes $50 Charge On Non-Resident BVN

2025/07/08
Why We Are Investing In Critical Infrastructure – Mbah
Business

Enugu Air Will Be For Traders, Enugu People – Mbah

2025/07/08
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Equities Market Opens Trading Week With N193bn Gain

2025/07/08
Restore Public Confidence In Judiciary, Panelists Tell Next CJN, Kekere-Ekun
Business

Shettima, CJN, Others Task Judges On Swift, Credible Judgements To Strengthen Capital Market

2025/07/08
NIMR Faces Power Outage Over ₦38m Debt
Business

TCN Adds 250MW To National Grid With New Bauchi Substation

2025/07/08
Hazy Weather: NCAA Warns Pilots, Operators Over Poor Visibility
Business

Nigerian Has 3rd Highest Air Ticket Taxes, Charges In Africa – Report

2025/07/08
Leadership Conference advertisement

LATEST

CBN Imposes $50 Charge On Non-Resident BVN

Enugu Air Will Be For Traders, Enugu People – Mbah

Equities Market Opens Trading Week With N193bn Gain

Shettima, CJN, Others Task Judges On Swift, Credible Judgements To Strengthen Capital Market

TCN Adds 250MW To National Grid With New Bauchi Substation

Nigerian Has 3rd Highest Air Ticket Taxes, Charges In Africa – Report

NCC To Spotlight Mobile Virtual Network Investment, Growth Potential At Forum

Recruitment: Customs Denounce Viral CBT Shortlist, Say Process Still Ongoing

SG Holdings Signals Global Expansion With Impressive Balance Sheet After 10-yr Growth

JUST-IN: Bandits Kill 70 Vigilantes In Plateau Communities

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.