Nigeria’s modular refining sector is expected to expand next year, with seven new refineries projected to commence operations with a combined capacity of 83,000 barrels per day, according to Argus Media’s George Maher-Bonnett.
Maher-Bonnett disclosed this in Lagos on Wednesday during a presentation at the OTL Africa Downstream conference, where he highlighted the changing dynamics of Nigeria’s petroleum products market amid rising local refining capacity and declining fuel demand.
In his presentation, titled ‘African Energy Outlook’, Maher-Bonnett said four modular refineries operated in Nigeria in September, with a combined capacity of 32,000 barrels per day.