Nigeria is on track to become a full petroleum exporting nation by 2027 following a major milestone by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
NMDPRA announced it has licensed 83 refineries with a combined refining capacity of 1,124,500 barrels per day.
The development represents a shift in the country’s energy landscape as the federal government intensifies efforts to boost local refining and reduce dependence on imported petroleum products.
The licenses issued by the NMDPRA include eight operational licenses known as Licenses to Operate, 30 Licenses to Construct and 45 Licenses to Establish.
According to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), the new capacity places the country in a strong position to transition from a net importer to a consistent exporter of refined petroleum products over the next two years.
PETROAN’s National President, Billy Gillis-Harry, commended the regulatory body for its proactive role in encouraging investment and enhancing transparency across the oil and gas value chain.
He emphasized that the next critical step is ensuring sufficient crude oil allocation to local refineries to keep them operational and commercially viable.
He stated that sustained access to feedstock is essential to drive consistent output, lower fuel import volumes and conserve foreign exchange.
Data from the downstream sector shows that petrol imports have already declined sharply from 44.6 million litres per day in August 2024 to 14.7 million litres per day as of April 13, 2025.
This drop highlights the impact of local refining and signals growing investor confidence in domestic capacity.
Gillis-Harry outlined job creation and economic growth as the two major benefits of prioritizing local refining.
The second is the long-term preservation of foreign exchange reserves by limiting import exposure.
He credited the Chief Executive Officer of NMDPRA Farouk Ahmed for introducing policy reforms that have improved investor sentiment and increased private sector participation in refinery projects.
He added that the coordinated licensing approach by the NMDPRA is creating a more structured and accountable downstream environment.
As the number of licensed refineries grows, the government is expected to intensify monitoring and compliance mechanisms to ensure efficiency, environmental safety and sustainability. Industry experts believe that achieving petroleum export status will depend not only on refining capacity but also on security stability, logistics and consistent policy direction.
With 83 refinery projects now underway, Nigeria is moving closer to reversing its historical import dependence and aligning with its long-term energy security objectives. Analysts forecast that if crude allocation and infrastructure upgrades continue at the current pace, Nigeria could become a regional hub for refined petroleum exports by 2027.
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