Approximately 78% of Refined Product Importation Gap

Nigeria, Africa’s largest crude oil producer, is also the biggest importer of refined petroleum products in the continent. Because of its inadequate domestic refining capacity, Nigeria, which is home to over 170 million people, imports more than 75 percent of its refined petroleum products for the servicing of its economy.

The country’s fuel need is over 40 million liters daily, which is over 279,000 bpd, while crude oil production averages about 2 million bpd. Nigeria’s four refineries with a combined capacity of about 445,000 bpd have for long been operating far below their installed capacity as they are in various states of disrepair. The Eghudu refinery is planned as an intervention in this large underserved market.

Nigeria imported 19.18 billion litres of gasoline in 2019, current local refinery output is 166.33 million litres. Significant capacity for growth and demand of off-take products

Strategic water way access and increased global energy demand creates more opportunities for exporting petrochemical products from Eghudu to international markets

The promoters of the project extensive experience in the global oil and gas industry and understand the importance of partnerships to achieving large-scale projects. This project is supported by a broad network of experienced energy consultants and strategic engineering, finance and community relations advisers.