Major Oil Companies Agree to Build New 50,000bpd Refinery in Nigeria

Nigeria is set to boost its refining capacity with the signing of an agreement by marketers and three major oil firms to build a 50,000-barrels-per-day capacity refinery. The deal aims to increase the country's refining output and reduce dependence on imported petroleum products.

Nigeria has taken a significant step forward in boosting its refining capacity, with petroleum product retailers signing a deal to establish a new refinery capable of producing 50,000 barrels per day. The move is part of the country's efforts to reduce its reliance on imported refined products and increase domestic production. The partnership with three oil companies marks a major milestone in Nigeria's ongoing push to improve its energy sector. The new refinery is expected to play a key role in meeting the country's growing demand for petroleum products.