The Federal Government of Nigeria has pledged full support for the Dangote Refinery as it works toward achieving its expanded production target of 1.4 million barrels of refined products per day.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made the commitment on Monday in Lagos during his opening address at the 19th Africa Downstream Energy Week.
“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 impact the entire African continent and the world. The Federal Government will support him all the way.”
He described the refinery’s expansion as a major milestone for Africa’s energy independence and a strong validation of the Tinubu administration’s policies on energy reform.
Lokpobiri reiterated that fuel subsidy removal and the liberalisation of the downstream petroleum sector were crucial steps to enable private investment and long-term growth.
“With subsidies in place, the private sector could not thrive,” he explained. “Now, deregulation has created healthy competition, stabilised prices, improved supply, and made products more accessible.”
He noted that, despite initial resistance, the reforms have brought greater stability and investor confidence to the sector.
“If subsidies had remained, Nigeria’s energy sector would be in a much more difficult position today,” the minister added.
The minister reaffirmed Nigeria’s commitment to attracting investment across the oil and gas value chain, stressing that hydrocarbons remain essential to global energy security.
“The world now recognises that the energy transition cannot occur in isolation,” Lokpobiri said. “Oil and gas remain critical even as we pursue cleaner alternatives.”
Citing United Nations reports, he said the world needs to invest about $540 billion annually in oil and gas recovery and related infrastructure to meet energy demand and sustain global security.
He emphasised that Africa, with a population exceeding 1.4 billion, cannot afford to neglect investments in exploration, production, and refining capacity, as these are key to achieving energy self-sufficiency and economic stability.
Also speaking at the event, Adetunji Oyebanji, Chairman of the Advisory Board of OTL Africa Downstream Energy Week and former MEMAN Chairman, called for stronger collaboration, policy consistency, and innovation to drive Africa’s energy sustainability.
“Energy sustainability is not just about conserving resources but ensuring that our growth today does not compromise tomorrow’s prosperity,” he said.
Oyebanji highlighted the impact of global geopolitical tensions, supply disruptions, and the accelerating shift toward cleaner fuels, noting that Africa must evolve from a supplier of raw hydrocarbons to a hub for innovation and value addition.
“Our growth must be sustainable, inclusive, and border. Collaboration must become the new competition,” he urged.
He further noted that Nigeria’s deregulated downstream market, focus on gas commercialisation, and expanding infrastructure have laid the foundation for sustainable growth, but warned that policy stability and regulatory transparency remain crucial for investor confidence.
“The downstream sector is evolving amid both turbulence and transformation. Success will depend on how we combine innovation, policy stability, and operational efficiency,” Oyebanji concluded.
Theme: “Energy Sustainability: Growth Beyond Boundaries and Competition”
The 19th Africa Downstream Energy Week brought together regulators, operators, investors, and innovators to discuss strategies for building a competitive and sustainable energy future for Africa.