In a significant move to enhance Nigeria's fuel supply, the Federal Government has approved licenses for nine modular refineries, including seven construction permits and four operational licenses.
Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced the development on Monday at the 2024 Oil Trading & Logistics Africa Downstream Energy Week in Lagos.
This initiative aligns with efforts to meet domestic energy needs and reduce reliance on fuel imports by expanding local refining capacity.
According to Ahmed, under President Bola Tinubu’s administration, Nigeria’s refining capacity has been expanding, particularly with the commencement of production by Dangote Refinery.
“Over the last year, the NMDPRA has revised and consolidated its regulations through strategic industry stakeholder engagements to streamline the regulatory framework for ease of doing business and compliance. This is complemented by the issuance of relevant guidelines on automation for processes to strengthen regulatory clarity and enhance compliance.
“Our refinery sector has been expanding rapidly with the issuance of nine licenses to establish, seven licenses to construct, and four licenses to operate modular refineries,” he stated.