The Crude Oil Refiners Association of Nigeria (CORAN) has unveiled plans for the CORAN Summit 2025, scheduled for October 6–7 at Eko Hotels & Suites, Victoria Island, Lagos. The summit, themed “Refining – Key to Energy Security in Africa,” aims to bring together top policymakers, industry leaders, financiers, and civil society stakeholders to discuss strategies for strengthening Africa’s refining sector.

Despite being one of the world’s largest crude oil producers, Africa continues to rely heavily on imported petroleum products. In Nigeria, for instance, over 90% of refined fuel has traditionally been imported, exposing the economy to global price shocks and inflating costs. The removal of fuel subsidies in 2023 further highlighted the urgent need to develop local refining capacity to stabilize energy prices for households and industries.

The summit will feature keynote speeches, panel discussions, technical sessions, and networking opportunities. Key topics include investment-friendly policies, financing solutions, innovative and cleaner refining technologies, regional trade integration under AfCFTA, energy transition, and job creation in refining and petrochemicals.

“After years of exporting crude while importing refined products at high costs, it’s time to invest in domestic refining, generate employment, and secure Africa’s energy future,” said Momoh Jimah Oyarekhua, President of CORAN. He emphasized that the summit is a platform for policy direction, partnerships, and actionable strategies to transform the continent’s refining landscape.

The event is expected to spur policy reforms, attract private investment, encourage global best practices, and position Nigeria as Africa’s refining hub, reducing reliance on imports and strengthening energy security across the continent.