The Crude Oil Refiners Association of Nigeria (CORAN) has announced its 2025 summit, scheduled to take place in Lagos on October 6–7, with a focus on positioning Africa’s refining sector as the key to ensuring energy security and reducing dependence on imported petroleum products.
The two-day conference, themed “Refining: Key to Energy Security in Africa”, will bring together government leaders, industry executives, financiers, and civil society stakeholders to chart a roadmap for sustainable refining development across the continent.
In a statement, CORAN emphasised that despite Africa’s status as a major crude oil producer, the continent has remained heavily dependent on imported petroleum products. In Nigeria alone, more than 90 per cent of refined fuel was imported until recently, leaving the economy vulnerable to global shocks, rising costs, and pressure on foreign reserves.
“The 2023 removal of fuel subsidies further underscored the urgency of building a self-sufficient refining sector as households and industries grappled with rising energy prices,” CORAN said. “Today, with the establishment of both conventional and modular refineries, expanding private investment, and accelerating policy reforms, the opportunity to reimagine Africa’s refining future has never been greater.”
CORAN said the summit will feature keynote addresses, technical panel sessions, high-level networking, and advertisements that will spotlight new opportunities across the value chain. Discussions will focus on investor-friendly policies, financing and risk management strategies, innovative refining technologies, cleaner energy adoption, and regional integration under the African Continental Free Trade Area (AfCFTA).
CORAN President, Momoh Oyarekhua, said the summit would serve as a rallying point for action.
“After decades of exporting crude and importing refined products at great cost, the time has come to refine more at home, create jobs, and secure Africa’s energy future,” Oyarekhua said.
“The CORAN Summit 2025 is not just another meeting; it is a rallying point for action, partnerships, and policy direction to transform the refining landscape,” he added.
According to CORAN, the gathering is expected to catalyse major policy reforms, forge stronger collaboration between government and private operators, promote global best practices, and position Nigeria as the continent’s refining hub.
The group stressed that by reducing dependence on imports, boosting jobs, and advancing cleaner refining practices, the summit will play a pivotal role in shaping Africa’s path toward energy security.
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