Nigeria Unveils Ambitious Plan to Boost Refining Capacity

Nigeria, Africa's largest oil producer, is planning to transform its refining sector by increasing its capacity to 2.64 million barrels per day (bpd) by the end of 2030.

The country aims to achieve this goal through the construction of 24 new refineries and continued investments in existing facilities, according to Industrial Info Resources (IIR).

This ambitious plan is expected to make Nigeria a major player in the refining market, surpassing countries like the US and Iran.

The IIR report states that modular refineries will account for most of the anticipated capacity expansion, highlighting their growing importance in Nigeria's refining strategy.