By Peace Udugba
Primate Elijah Ayodele has predicted that new private-sector investments in oil refining may emerge from different parts of Nigeria.
The cleric said the development could see more privately owned refineries established across various regions of the country, potentially boosting domestic refining capacity and reducing dependence on imported petroleum products.
However, Ayodele did not disclose the names of individuals or companies he believed would establish the refineries. He also did not specify the locations, timelines or expected production capacities of the facilities.
His latest comments therefore remain a prediction and should not be regarded as confirmation of specific refinery projects currently under construction.
The prediction comes amid growing private-sector investment in Nigeria’s downstream oil industry, with several investors pursuing refinery projects aimed at increasing local production of petroleum products.
Nigeria has in recent years witnessed increased activity in the refining sector as the government seeks to expand domestic refining capacity and reduce the country’s reliance on imported refined petroleum products.
