Nigeria’s refining capacity may rise to 2.64 million barrels per day by the end of 2030 as 24 refinery projects advance through various stages of development, according to a new report by Industrial Info Resources.
The report said the projects, together with planned expansions at existing refineries, are expected to transform Nigeria from a country that has historically exported crude oil and imported refined petroleum products into one capable of meeting domestic demand and supplying refined products to other African countries.
Industrial Info Resources said it is tracking $10.74bn worth of modular refinery capital spending in Nigeria scheduled for completion between 2026 and 2030, making the country the global leader in new refinery developments.
According to the report, Nigeria has 24 grassroots refinery projects expected to come on stream before 2031, significantly ahead of the United States and Iran, which each have 11 projects in the pipeline. Iraq ranks fourth
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