The Crude Oil Refiner-Owners Association of Nigeria, COREN, has called for joint efforts to position Nigeria as a net exporter of crude oil within Africa and beyond.
The Chairman of COREN, Mr. Momoh Oyarekhua, spoke at COREN 2025 Summit on Tuesday in Lagos where participants discussed ‘Refinery – Key to Energy Security in Africa.’
Oyarekhua said the association is working to ensure Nigeria’s crude oil production serves markets beyond its borders.
“This summit brings together visionaries, policymakers, investors, and industry leaders committed to shaping Nigeria’s and Africa’s refining future,” he said.
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According to him, COREN’s vision is to transform Nigeria from a petroleum importer into a self-sufficient refining nation and eventually a net exporter across Africa.
“This summit provides a platform to advance this mission through dialogue, innovation, and collaboration among stakeholders.
“Africa’s energy security depends on refining more of its crude oil,” Oyarekhua said.
He said strengthening domestic refining capacity would stabilize fuel supply, cut import dependence, retain value locally, and create employment opportunities.
“The 2025 COREN Summit offers a chance to explore policy reforms, financing strategies, and technological partnerships to achieve this goal.
“As we discuss refining integration, modular and large-scale projects, and regional cooperation under AfCFTA, I urge participants to share ideas for sustainable progress.
“Together, we must build a resilient and self-reliant energy future — one refinery, one partnership, and one innovation at a time,” he said.
Also speaking, Mr. Clement Isong, Chief Executive Officer of the Major Energies Marketers Association of Nigeria, MEMAN, described the summit’s theme as timely and strategic.
He said it reflects a shared understanding that Africa’s energy independence depends on strengthening local refining capacities.
“As Africa faces market volatility and energy transition, refining remains vital for sustainable growth, industrial strength, and economic empowerment,” Isong noted.
He commended COREN’s leadership for driving key discussions linking refining development to wider national and regional energy goals.
“MEMAN supports this vision. We continue to promote collaboration, efficiency, and innovation across the downstream petroleum value chain.
“We hope this summit delivers actionable insights and partnerships to achieve energy security — not just for Nigeria, but for all of Africa.
“MEMAN remains a committed partner on this shared journey toward a sustainable and self-reliant energy future,” he said.
NAN
