LAGOS, Nigeria (Chatnewstv.com) — Nigeria’s federal government has pledged its full support for the Dangote Petroleum Refinery as it moves to significantly expand its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd within the next three years.
Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), gave the assurance on Monday during his address at the 19th Africa Downstream Energy Week in Lagos.
The minister described the refinery’s planned growth as a “monumental milestone for Africa’s energy independence,” commending Aliko Dangote, the founder of the Dangote Group, for his investment in regional energy security.
“I received the good news that the Dangote Refinery is expanding its capacity to 1.4 million barrels per day,” Lokpobiri said. “That will not just save Nigeria or West Africa, it will save Africa and even make an impact globally. The federal government will support him all the way to accomplishing that goal.”
The minister asserted that the refinery’s expansion validates the policy direction of the President Bola Tinubu administration, specifically citing the removal of fuel subsidies and the liberalization of the downstream petroleum sector.
“The main reason President Tinubu announced the removal of fuel subsidy on his first day in office was because, with subsidies, the private sector could not grow,” Lokpobiri explained. “With deregulation and liberalization, there is now healthy competition. Prices are stable, products are more available and accessible, and the market is more efficient.”
Lokpobiri maintained that retaining fuel subsidies would have crippled Nigeria’s energy sector, arguing the reforms have already attracted new investments and improved investor confidence.
He also underscored the continuing importance of hydrocarbons in the global energy mix despite the transition to cleaner sources.
“The world has realized that energy transition cannot happen in a vacuum. Even as we pursue renewables, the global economy still depends on oil and gas,” he said. “Without sufficient investment in hydrocarbons, there will be no financial capacity to support cleaner energy.”
Citing United Nations data, the minister noted that the world must invest about $540 billion annually in oil and gas recovery and infrastructure to meet rising energy demand.
Adetunji Oyebanji, chairman of the advisory board of OTL Africa Downstream Energy Week, called for consistency in policy, innovation, and regional integration to advance Africa’s energy sustainability.
“Energy sustainability is not merely about preserving resources; it’s about ensuring that our growth today does not compromise the prosperity of tomorrow,” Oyebanji said. He urged African nations to move beyond being suppliers of raw hydrocarbons to becoming hubs of innovation and value addition.
