Minister of State for Petroleum Resources Heineken Lokpobiri, says the Federal Government will give its full support to the Dangote Refinery in achieving its target of producing 1.4 million barrels of refined products per day.
Lokpobiri made the remark on Monday in Lagos while delivering his welcome address at the 19th Africa Downstream Energy Week themed “Energy Sustainability: Growth Beyond Boundaries and Competition.”
According to the minister, the planned expansion of the Dangote Refinery represents a major milestone for Africa’s energy independence and a validation of President Bola Tinubu’s economic and energy policies.
“I received the good news that the Dangote Refinery is expanding its capacity to 1.4 million barrels per day,” Lokpobiri said. “That will not just save Nigeria or West Africa it will save Africa and make an impact globally. The Federal Government will support him all the way to accomplishing that goal.”
Lokpobiri described the refinery’s growth as a bold statement of private sector resilience and innovation, noting that it aligns with the administration’s vision of a deregulated, self-sufficient energy sector.
He explained that the removal of fuel subsidies and the liberalisation of the downstream petroleum sector were key decisions taken to attract private investment and create a viable business environment.
“The main reason President Tinubu removed fuel subsidies on his first day in office was that the private sector could not grow under such conditions,” he said. “Today, deregulation has brought competition, stability, and accessibility to the petroleum market.”
The minister added that without subsidy removal, Nigeria’s energy sector would have faced severe financial strain, hindering progress in refining and infrastructure development.
Lokpobiri reaffirmed the government’s commitment to deepening investment across the oil and gas value chain, stressing that the global conversation on energy transition is gradually shifting toward balance recognising hydrocarbons as essential for sustainable development.
“The world has realised that energy transition cannot happen in a vacuum,” he said. “Even as we pursue cleaner sources, the global economy still depends on oil and gas. Without investment in these resources, we cannot fund the energy mix we desire.”
Citing recent United Nations reports, he said the world must invest about $540 billion annually in oil and gas recovery and related infrastructure to meet growing global demand and ensure energy security.
He further emphasised that Africa, with its population exceeding 1.4 billion, must prioritise expanding exploration, production, and refining to achieve self-sufficiency and economic stability.
“Africa cannot afford to ignore oil and gas investment,” he stated. “Expanding refining capacity is critical not only for self-sufficiency but for the continent’s long-term stability.”
Lokpobiri commended President Tinubu for taking what he described as “courageous but necessary” decisions that have repositioned Nigeria’s downstream sector for sustained growth.
“It takes a courageous leader to make decisions that may be unpopular today but are vital for the country’s future,” he said.
He assured that ongoing reforms aim to strengthen energy security, encourage domestic refining, and foster greater private sector participation across the oil and gas value chain.
“We are not just talking about transition; we are building an energy mix that guarantees Africa’s security,” he added.
Mr. Adetunji Oyebanji, Chairman of the Advisory Board of OTL Africa Downstream Energy Week, called for stronger collaboration, innovation, and policy consistency to enhance Africa’s energy sustainability and global competitiveness.
Oyebanji described the OTL Energy Week as a bridge between policy and practice uniting regulators, investors, and innovators to shape the continent’s downstream future.
“Energy sustainability is not merely about preserving resources; it’s about ensuring that our growth today does not compromise tomorrow’s prosperity,” he said.
The former chairman of the Major Energy Marketers Association of Nigeria noted that global energy dynamics continue to shift amid geopolitical tensions, supply chain disruptions, and the accelerating transition to renewables.
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He stressed that Africa, richly endowed with natural and human resources, must move beyond exporting raw hydrocarbons to becoming a centre for innovation and value addition.
“Africa must position itself not just as a source of energy, but as a source of innovation,” Oyebanji said. “Our growth must be sustainable, inclusive, and borderless.”
He emphasised that Nigeria remains at the heart of Africa’s energy transformation through deregulation, gas commercialisation, and expanding infrastructure. However, he cautioned that sustained growth depends on policy stability, regulatory transparency, and investor confidence.
Reflecting on recent developments, Oyebanji said the downstream market is evolving through both “turbulence and transformation,” and success will depend on balancing innovation with policy predictability.
“Our capacity to grow beyond boundaries depends not only on how hard we compete but also on how well we cooperate,” he said.
He concluded by calling for an integrated approach that bridges hydrocarbons, renewables, and alternative energy sources to create a system promoting both economic growth and environmental responsibility.
