Lokpobiri, Dangote Endorse Nigerian Crude Oil Refining Summit

The minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, and Alhaji Aliko Dangote, who is the president/chairman of the Dangote Refinery, have formally endorsed the inaugural Nigerian Crude Oil Refining Summit set to take place on October 7th and 8th, 2024 in Lagos.

The ministers have not only endorsed the event but have also confirmed their attendance and participation as keynote speakers.

Their involvement was officially confirmed during courtesy visits by the Crude Oil Refinery-owners Association of Nigeria (CORAN) led by its chairman, Momoh Oyarekhua, at their respective offices in Lagos and Abuja.

“The endorsement and participation of Senator Heineken Lokpobiri, Dr. Doris Uzoka-Anite, and Alhaji Aliko Dangote reflect the pivotal importance of the Nigerian Crude Oil Refining Summit.
Their leadership and insight will be invaluable as we chart the course for Nigeria to become a net exporter of petroleum products,” said Oyarekhua, CORAN chairman.

With the theme ‘Transforming Nigeria into a Net Exporter of Petroleum Products,’ this summit comes at a crucial juncture for the country’s oil industry. As Nigeria navigates the complexities of downstream oil deregulation, the event serves as a critical forum for industry stakeholders to deliberate and plan for the sweeping changes reshaping the sector.

The summit, according to the organisers, will focus on assessing the investment opportunities and operational sustainability of refinery businesses amid ongoing deregulation, which is poised to create a more competitive market, attract international investments, and boost the efficiency of domestic refineries.

While the event will emphasise the need for a stable and transparent regulatory environment that not only drives investment but also safeguards consumer interests, additionally, they added that , the summit will encourage collaboration among regulatory bodies, crude oil producers, and refinery operators to guarantee a consistent supply of feedstock at competitive prices, thus supporting the sustainable operation of refineries.

“We are confident that the summit will not only address the current challenges but also unlock new opportunities for Nigeria’s refining sector, driving our nation’s economic growth and energy security,” Oyarekhua said.

The Nigerian Crude Oil Refining Summit 2024 is set to be a milestone event, featuring keynote addresses, panel discussions, and networking opportunities with key stakeholders, including government officials, industry experts, and international investors.

The Crude Oil Refinery-owners Association of Nigeria (CORAN) said it is committed to advancing the interests of Nigeria’s refinery owners and operators even as the association advocates policies that stimulate investment and growth in the oil refining sector, ensuring its sustainability and its vital contribution to Nigeria’s economic development.