Rising Domestic Refining Capacity Strengthening Nigeria’s Energy Security – Tinubu
President Bola Ahmed Tinubu says Nigeria’s growing domestic refining capacity is enhancing the country’s energy security and reducing dependence on imported petroleum products.
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‎Speaking during his Democracy Day address on Friday, the President cited increased refining activities as one of the notable outcomes of ongoing reforms in the energy sector.
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‎According to him, improved domestic refining capacity is helping to strengthen the nation’s ability to meet local fuel demand while reducing exposure to external supply disruptions.
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‎”Domestic refining capacity has increased, strengthening energy security and reducing our reliance on imported petroleum products,” Tinubu stated.
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‎The development comes amid efforts by the Federal Government to reposition the oil and gas sector, improve value addition and retain more economic benefits within the country.
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‎Energy experts have consistently argued that expanding local refining capacity could reduce pressure on foreign exchange, improve fuel supply stability and support industrial growth.
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‎Tinubu said the administration remains committed to implementing policies that encourage investment across the energy value chain and enhance national energy resilience.
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‎The President expressed optimism that continued investments in refining and other strategic energy infrastructure would contribute significantly to economic growth, job creation and long-term sustainability.
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‎He added that strengthening energy security remains a key component of the government’s broader strategy to accelerate development and improve the quality of life of Nigerians.