Over 40 Licenses Issued for Refineries in Nigeria, But BUA Is Not the Only One – Esele
By Erewunmi Peace
The Nigerian government has issued over 40 licenses to companies planning to build oil refineries across the country, but contrary to some claims, BUA Group is not the only refinery expected to come on stream, according to industry sources and government officials.
Speaking on the current state of refining in Nigeria, a regulatory insider, Esele, highlighted that while BUA Group’s refinery project in Akwa Ibom State is a major development, it is part of a broader initiative to boost domestic refining capacity.
“Nigeria has licensed more than 40 companies to establish refineries. These include both modular and large-scale projects. BUA is a significant project, but it is not the only refinery expected,” Esele said.
Other Notable Refinery Projects
Dangote Refinery (Lagos State): Already operational, currently producing refined petroleum products.
Waltersmith Modular Refinery (Ondo State): Operational and supplying domestic markets.
Aradel Refinery and others: At various stages of construction and commissioning.
The goal of issuing multiple refinery licenses is to reduce Nigeria’s dependence on imported fuel, improve domestic supply, and stimulate economic growth. Analysts note that while BUA’s project is one of the largest, modular refineries and other projects also play an important role in meeting national fuel demand.
Industry experts stress that the government continues to encourage private investment in refining through regulatory support, tax incentives, and infrastructure facilitation.
Over 40 licenses for refinery construction have indeed been issued in Nigeria, but BUA Group’s refinery is not the only project in the pipeline. Other refineries, both large-scale and modular, are either operational, under construction, or planned, aiming to strengthen Nigeria’s energy security.
