More Competition As 3 Companies Get Approval To Construct New Refineries
- Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved the construction of new refineries
- The refinery licence was given to three companies including MB Refinery and Petrochemicals Company Ltd
- The latest development is a welcome boost for Nigeria in its efforts to become self-reliant in petroleum products
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Federal Government of Nigeria, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a licence for the construction of new refineries to three Nigerian companies.
NMDPRA, in a statement shared on X, said the three refineries will contribute 140,000 barrels per day (bpd) to Nigeria’s domestic refining capacity.
Source: Getty Images
The companies approved to build the refineries are Eghudu Refinery Limited, MB Refinery and Petrochemicals Company Limited and HIS Refining and Petrochemical Company Limited.
Details of refineries
NMDPRA stated that Eghudu Refinery Limited will have a production capacity of 100,000 barrels per day (bpd), MB Refinery and Petrochemicals Company Limited will produce 30,000 bpd, while HIS Refining and Petrochemical Company Limited will establish a 10,000 bpd facility.
Part of the statement reads:
"The Authority's Chief Executive, Engr. Farouk Ahmed, presented a License to Construct a 100,000 bpd refinery to Eghudu Refinery Ltd in Edo State, along with Licenses to Establish a 30,000 bpd refinery for MB Refinery and Petrochemicals Company Ltd in Delta State and a 10,000 bpd refinery for HIS Refining and Petrochemical Company Ltd in Abia State."
“These licenses, which would add 140,000 barrels per day to Nigeria’s domestic refining capacity, were presented to the MDs of the companies.”
Source: Twitter
Refineries in Nigeria
In recent months the NMDPRA has issued an operational licence to different refineries.
In August 2024, Edo Refinery and Petrochemical Company Limited, Ologbo, Edo state.
NMDPRA said the operational licence was the final stage of approval from the regulatory authority, as the plant can now fully operate as a refinery.
Also, MRO Energy Limited, an energy company, received the approval for a 10,000 barrels per stream day refinery at Imode In Ughelli, Delta state.
Process Design and Development Limited also secured a licence to construct a 27,000 barrels per day refinery in Gombe state.
The Nation also reported that there are nine completed refineries in Nigeria aside from the Dangote petroleum refinery.
Here is the list of completed refineries in Nigeria
- Edo Refinery and Petrochemical Company
- Duport Midstream
- Walter Smith Refinery
- OPAC Refinery, Delta state
- Niger Delta Petroleum Refinery (Aradel)
- Old Port Harcourt Refinery
- Warri Refinery and Petrochemical Company (WRPC)
- New Port Harcourt Refinery
Dangote refinery crash petrol prices
In a previous report by Legit.ng Dangote Petroleum Refinery announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, from N890 to N825 per litre.
The new price, reflecting a N65 reduction, will take effect from Thursday, February 27, 2025.
The Dangote group said the price is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season.
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Source: Legit.ng
