Nigeria will play host to a high-level summit of oil refiners this October, as industry leaders, policymakers, and investors gather to discuss Africa’s refining future and the continent’s path to energy independence.
The Crude Oil Refiners Association of Nigeria (CORAN) confirmed that the two-day event, tagged “Refining: Key to Energy Security in Africa,” will run from October 6–7, 2025, in Lagos. Organizers say the summit will focus on how African nations can reduce dependence on imported petroleum products despite being some of the world’s biggest crude exporters.
For decades, Nigeria imported the bulk of its refined petroleum needs, at times exceeding 90 percent, a situation that drained foreign reserves and exposed the economy to global price volatility. The removal of fuel subsidies in 2023 further highlighted the urgent need to expand domestic refining, as households and industries faced surging energy costs.
CORAN’s President, Momoh Oyarekhua, said the summit aims to push beyond rhetoric and chart practical steps toward building a stronger refining base across the continent. “After years of exporting crude and importing refined products at a premium, the time has come for Africa to refine at home, create jobs, and safeguard its energy future,” he stressed.
According to CORAN, the Lagos meeting will feature keynote speeches, technical sessions, and networking opportunities designed to attract investment and policy innovation. Topics will cover financing models, risk management, new refining technologies, integration under the African Continental Free Trade Area (AfCFTA), energy transition, and job creation in the petrochemical sector.
Industry watchers expect the gathering to provide a blueprint for positioning Nigeria as the refining hub of Africa, with the capacity to meet regional demand and reduce reliance on foreign imports. CORAN said it views the summit as a springboard for reforms, private-sector collaboration, and adoption of global best practices that can accelerate Africa’s march toward energy security.
