Nigeria’s Refiners Demand Action | Nigeria News

Nigeria’s refinery owners are sounding the alarm, demanding government action to revive the local refining sector—arguing that just like the U.S. under Trump, Nigeria must intervene to turn its crude into fuel at home. With the country importing most of its petroleum despite producing vast amounts of crude, they’re highlighting crippling obstacles: currency woes, sky-high borrowing costs, unreliable crude supply, crumbling infrastructure, and expensive logistics. CORAN insists refining locally isn’t just about energy independence—it’s smart economics. Last year, massive gaps between allocated and delivered crude exposed systemic failures, with pricing imbalances as a key culprit—even if some progress was seen in Q2. They’re pushing for a realistic pricing model that balances global benchmarks with local realities like transport and proximity, rejecting subsidies in favor of commercially viable deals. Their ultimate goal? To transform Nigeria into Africa’s refining hub—boosting jobs, saving foreign exchange, and keeping wealth within the nation by empowering domestic production, pipelines, storage, and fair access to crude. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/654d648b2055a415