Lagos State is preparing to host a second privately owned refinery, as talks with a new investor continue to take shape. The announcement was made by Dr. Oluyinka Abiodun Olumide, Commissioner for Physical Planning and Urban Development, during an Economic Roundtable in Alausa, Ikeja.

Dr. Olumide highlighted that Lagos has become increasingly attractive for large-scale industrial and energy investments. He noted that private operators are now exploring opportunities beyond the existing Dangote Refinery, Africa’s largest single-train facility, which is already operating in the state.

“These are projects driven by the private sector. The government provides the framework, but investors make these ventures happen,” Olumide said. He added that the state’s planning system is designed to support major capital projects that can create jobs, strengthen the energy sector, and expand industrial activity.

The Dangote Refinery, initially planned for Ogun State’s Olokola Free Trade Zone, moved to Lagos after political delays stalled its development. Officials say the success of Dangote’s facility has made Lagos an attractive location for other private refinery investors.

Several other private companies, including BUA, Aradel, and Waltersmith, already hold refinery licenses and are developing facilities in the state. With infrastructure, planning support, and a business-friendly environment, Lagos is positioning itself as a hub for private-sector-led energy and industrial growth.