Nigeria becoming West Africa’s refining hub but supply challenges persist – CORAN 

The association said this as it welcomes the licensing of a new private refinery in Delta State by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

NMDPRA announced on its X page earlier this week that it had issued a license for the construction of a 10,000 barrels per day refinery in the Ughelli area of Delta State to MRO Energy Limited.

“The authority Chief Executive, Farouk Ahmed presented a License to Establish a 10,000 Barrels Per Stream Day Refinery at Imode in Ughelli, Delta State, to MRO Energy Limited,” the agency announced.

In an exclusive chat with Naijaonpoint, CORAN Publicity Secretary, Eche Idoko, said the association welcomes the anticipated addition but stressed the need for the government to address the persistent supply challenges faced by local refineries.

“Just like Rotterdam (in the United States) is a reference point when it comes to refining in the world, we (Nigeria) can become a reference point as well,” 

He expressed optimism that Nigeria would become an export hub of refined petroleum products rather than depending on importation.

“We are committed to how we can transform Nigeria from an import-dependent country to an export hub in Africa. 

“And the good thing is that we are seeing the trend already. You can see how Dangote is influencing prices globally.”

Idoko commended the Midstream regulatory authority for its effort to encourage the establishment of local refineries in Nigeria.

“One of the major things NMDPRA did was to cut the cost of licensing for establishment of refineries,” he noted.

However, despite the growing number of refineries in the country, Idoko lamented that the Federal Government is not living up to its promise of making crude oil easily accessible to local refiners.

“However, the issue of crude supply is still something that needs to be addressed. As I speak to you, none of the modular refineries are getting crude supplies from the government not to talk of getting it with Naira. Also, the crude for Naira initiative of the President has stopped as I speak to you.”