Tinubu Declares Support for Dangote Refinery Expansion
President Bola Tinubu yesterday declared federal government’s support for the expansion of Dangote refinery from 650,000 barrels per day to 1.4 million barrel per day.
He spoke at the 19th edition of the OTL Africa Energy Week in Lagos was represented by the minister of state for Petroleum Resources (oil), Heineken Lokpobiri.
The President stated that he had “never hidden his desire to guarantee energy prosperity for Nigeria, as evident in the subsidy removal on our first day in office – a decision that has turned out to be a far better decision for our energy industry. We are changing the narrative.”
“And, yesterday, we heard in the news that Dangote wants to expand to 1.4 mbopd, and the federal government shall support that move to enhance supply stability in Nigeria and for Africa,” he said.
Otunba Adetunji Oyebanji, Chairman Advisory Board of OTL said, “As we look to the future, the imperative is clear: Africa must define its own path to energy sustainability. The opportunities before us are immense, but they require courage, clarity, and cooperation.
“We must invest in infrastructure, pipelines, depots, data systems, and digital tools. We must build capacity through research, training, and innovation. And we must hold ourselves accountable to the highest standards of transparency and environmental responsibility.
“The downstream sector remains at the heart of Africa’s energy value chain. Its growth and transformation will determine how successfully we navigate this new era of sustainability and competition. Let us therefore seize this moment with purpose and foresight, working together to ensure that our industry not only survives change, but leads it.”
He added that it is a meeting point for thought leaders, regulators, operators, investors, and innovators committed to building a strong and sustainable future for Africa’s downstream energy sector.
He said, “I think for this year, ‘Energy Sustainability, Growth Beyond Boundaries and Competition,’ is both timely and visionary.
“It reflects the realities of today’s energy landscape, one defined by volatility, innovation, and transformation and challenges us to seek growth that is sustainable, inclusive, and equitable.
“The global energy industry is once again at an inflexion point. Across continents, shifting geopolitical tensions continue to influence production, pricing, and supply chains.”