Abuja, Nigeria – April 22, 2025
Nigeria is on track to become a net exporter of petroleum products within the next two years, according to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).
The projection was made by PETROAN President, Billy Harry, during his 65th birthday celebration held in Abuja. The statement was released Tuesday by the association’s spokesperson, Joseph Obele.
Harry emphasized that Nigeria’s growing refinery capacity, bolstered by strategic licensing and investment, is setting the stage for energy self-sufficiency and eventual export capability.
According to recent figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the agency has issued a total of 47 licences to establish (LTE) refineries across the country. Additionally, eight refineries have received licences to operate (LTO), while 30 projects are currently under construction (LTC) with regulatory backing.
Harry noted that for these refineries to operate sustainably, the government must ensure a dedicated allocation of crude oil to domestic processors. He argued that boosting local refining capacity will not only reduce reliance on petroleum imports but also conserve foreign exchange, create jobs, and stimulate economic growth.
PETROAN Applauds NMDPRA’s Progress on Local Refining
Obele praised the efforts of the NMDPRA in promoting local refining, highlighting the significant drop in petrol imports—from 44.6 million litres per day in August 2024 to 14.7 million litres per day as of April 13, 2025—as evidence of progress.
“We commend the Chief Executive Officer of NMDPRA, Engr. Farouk Ahmed, for the innovation and transparency he has brought to the sector,” Obele said. “His leadership has restored investor confidence and attracted significant interest in local refining.”
Obele also acknowledged President Bola Ahmed Tinubu for his administration’s role in transforming the petroleum sector, as well as Senator Heineken Lokpobiri, the Honourable Minister of Petroleum Resources, for his initiatives aimed at improving security and boosting crude production volumes.
PETROAN reaffirmed its commitment to working closely with NMDPRA and other stakeholders to drive sustainable growth in Nigeria’s petroleum industry and overcome existing challenges.
