Energy
CORAN summit: Fed. Govt commits to meeting domestic, international markets oil needs
• NMDPRA establishes most transparent regulatory framework
The Minister of State for Petroleum Resources, Heineken Lokpobiri, yesterday reiterated the federal government’s commitment to ensuring that every barrel of crude oil produced in the country contributes to meeting both domestic and international obligations.
Lokpobiri gave this assurance yesterday in Lagos at the opening ceremony of the Crude Oil Refinery-Owners Association of Nigeria (CORAN) 2025 summit with the theme: “Refinery – Key to Energy Security in Africa.” He was represented by his Technical Adviser, Ndah Adaba.
He said that as part of deliberate policy and broader strategy, the Naira for crude sale agreement will continue to be a major step to reduce cost of fuel production, mitigate the exposure to the fluctuating exchange rate and to generally support indigenous refining.
The minister said that through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the government has streamlined the licensing regime: from Licence to Establish to Construct and Operate — ensuring that genuine investors are supported, not hindered, by bureaucracy.
According to him, Beyond licensing, government has continued to consolidate on facilitating the access to crude oil supply through the effective implementation of the Domestic Crude Oil Supply Obligation (DSCO) because no nation can claim energy independence if it cannot refine its own crude.
Lokpobiri said that under the Renewed Hope Agenda of his President Bola Tinubu, indigenous refining has been identified as a critical pathway to energy independence, job creation, and industrial revitalisation.
“Today, we have seen indigenous success stories such as Dangote Refinery & Petrochemical, Waltersmith Petroman Refinery, Aradel Holdings, etc. which collectively demonstrate that Nigerians have both the capacity and the will to refine Nigeria’s crude oil locally.
“These projects are more than facilities; they are symbols of confidence in our policy direction, and we are committed to replicating them across all oil-producing states,” he added
He said that in the bid to extending refining obligation beyond the shores of this country, the West African Fuel Reference Market was launched to position Nigeria as a regional refining and product supply hub to other West African sub-region.
He added that with increased local refining capacity, Nigeria will not only meet its domestic demand but will also serve as a dependable supplier of refined products to neighbouring countries, thereby reducing the region’s reliance on distant refineries and maritime imports.
“This aligns with the African Union’s vision for energy integration and intra-African trade under the African Continental Free Trade Area (AFCFTA).
Lokpobiri assured that the government will ensure feedstock security for all licensed refiners and also deepen fiscal incentives to attract more investment. The minister said that the government will also foster collaboration among African nations for product exchange, logistics and shared energy infrastructure, maintain that the path to Africa’s energy security runs through the gates of our refineries and its interrelated institution.
He said that the federal government remains fully committed to supporting indigenous refiners, strengthening regulatory institutions, and creating an enabling environment for sustainable downstream growth.
“Let this CORAN Summit 2025 serve as a renewed call – to industry players, regulators, investors, and policymakers to unite in achieving an Africa that refines what it produces and powers its future through its own resources,” he said.
Also speaking at the event, the Authority Chief Executive, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, said the authority has created Nigeria’s most transparent and predictable petroleum regulatory framework.
Ahmed, represented by the South-West Regional Coordinator of NMDPRA, Ayo Cadoso, noted that the Authority has developed and gazetted 18 key regulations covering every phase of refinery development, from establishment through to operations.
“These regulations were not developed in isolation. They were co-created with industry stakeholders to ensure they are practical, bankable, and investor-friendly. This is what we mean by regulatory certainty — clarity of rules, fairness in enforcement, and confidence in outcomes,” he explained, adding that NMDPRA ensures Naira-denominated crude sales to shield refiners from foreign exchange volatility.
Besides, the Authority’s boss said the organisation is actively facilitating industrial growth.
“We are working across agencies and the entire value chain to guarantee crude oil supply to all licensed refineries through structured nomination and supply mechanisms.”
He added that the authority ensures efficient evacuation and logistics for refined products to reach markets while promoting transparent practices for fair competition.
He added that NMDPRA has accelerated approvals and permits under clear service-level agreements, providing technical and commercial support throughout project lifecycles.
“These initiatives form part of our optimisation framework, which converts regulatory stability into investment confidence and boosts domestic refining capacity,” he said.
Ahmed stressed that investor confidence depends on consistent policy and regulatory integrity.
“Investors must trust that rules will not change midstream and that their returns are secure within a fair market structure,” he noted.
He highlighted major reforms achieved in the past four years, including downstream liberalisation and updated transportation codes to support modern infrastructure.
“These are not mere policy statements — they are actionable goals under our 2025 Refining Acceleration Plan.
“Nigeria’s energy future will be defined by clarity, confidence, and collaboration.
“We are not just refining crude oil — we are refining our economic destiny,” he stated.
Ahmed said that when regulators act with integrity, investors trust the process, and consistent policies can enable Nigeria to power itself and the rest of Africa.
“At NMDPRA, our promise is simple — to regulate with clarity, facilitate with credibility, and lead with courage.
“Today, I speak not just as a regulator but as a firm believer in Nigeria’s capacity to redefine her future.
“For too long, we exported crude and imported refined products — a paradox that weakened our economy. But that story is changing,” Ahmed said.
He acknowledged the transformative impact of the Dangote Refinery and the growing number of licensed modular and conventional refineries.
“Nigeria stands at the threshold of a historic transformation — from dependency to dominance, from importer to net exporter of refined petroleum products,” he said.
According to him, two key pillars will drive this refining revolution — Regulatory Certainty and Investor Confidence.
Ahmed also commended the summit’s engagements, including the Women in Refining session and the keynote dinner on ‘Private Refining as a Catalyst for Energy Security.’
“We reaffirmed that refining is not just a business — it embodies energy sovereignty, economic resilience, and industrial strength,” he said.
• Nigeria’s Energy Revival Already Happening, Says Ojulari
On December 1st, 2025, NNPC E&P Limited (NEPL), the flagship upstream subsidiary of NNPC Limited, achieved a record production level of 355,000 barrels of oil per day, its highest daily output since 1989.
The milestone marks a significant step forward for Nigeria’s upstream sector and reflects the company’s ongoing transformation anchored on efficiency and discipline.
The figures show genuine transformation: average daily production surged 52%, rising from 203,000 barrels per day in 2023 to 312,000 in 2025.
This growth is no coincidence; it stems from a clear strategy anchored on operational excellence, strong asset management, and structured field development. NEPL’s performance demonstrates that with the right leadership, strengthened systems, and a committed workforce, Nigeria’s upstream sector can overcome years of instability.
The achievement converts national ambition into measurable momentum. The presidential targets of 2 million barrels per day by 2027 and 3 million by 2030 have often appeared aspirational. NEPL’s delivery brings them closer to reality.
Speaking on the development, Engr. Bashir Bayo Ojulari, the Group CEO of NNPC Limited pointed out that the milestone is proof that Nigeria’s energy revival is not a dream; it is already happening.
“By showing its ability to exceed its own production benchmarks, NEPL confirms that the essential building blocks for scaling national output are being firmly established. The achievement signals that the machinery of production—equipment, processes, capabilities, and partnerships—can be driven with commercial discipline to produce real and positive outcomes,” Ojulari stated.
He noted that the achievement reinforces confidence nationally and across the global energy landscape, assuring partners and investors that Nigeria is committed to reaffirming its role as a dependable energy supplier.
Also speaking, Udy Ntia, the Executive Vice President, Upstream, observed that the milestone goes beyond the 355,000 bpd figure.
“In a sector where shortcuts can yield short-term wins but long-term damage, NEPL is making a different point: sustainable progress must rest on responsible operations. This ensures that scaling production does not compromise worker safety, community wellbeing, or environmental protection. It reinforces a shift away from extraction at any cost towards sustainable value creation—a core requirement for any modern energy company seeking global relevance,” Ntia added.
Nicolas Foucart, MD, NEPL also noted that NEPL’s record-setting performance mirrors the broader transformation unfolding across NNPC Limited.
“This is a story shaped by leadership that charts a clear course; by partnerships built on alignment and accountability; and by a workforce whose hard work is turning goals into measurable progress. Our people, our processes, and principles are the real engines behind this success. We are building for tomorrow, not just celebrating today,” Foucart stated.
He added: “For Nigerians, this accomplishment means far more than increased barrels; it translates into greater national revenue, stronger energy security, and a more resilient economic foundation. NEPL has not only produced more hydrocarbons; it has reignited belief in what Nigeria’s energy sector can achieve with the right systems, culture, and dedication.”
NNPC E&P Limited is a wholly-owned subsidiary of the Nigerian National Petroleum Company (NNPC) Limited involved in the exploration and production of oil and gas resources.
The Abia state government, in partnership with the Niger Delta Power Holding Company (NDPHC), has commenced the construction of a 7.5MVA, 33/11kV Injection Substation in Umuahia.
The state governor, Governor Alex Otti, at the groundbreaking ceremony, described the project as a transformative initiative that will significantly boost power supply and enhance distribution reliability across the state, noting that the new infrastructure marks the beginning of a broader effort to modernise Abia’s power network.
The project is being executed by NDPHC under the National Integrated Power Project (NIPP). Its scope includes the construction of a 1km 33kV line, 1.2km of 11kV line, installation of two 300kVA distribution substations, and the provision of 2km of low-tension line.
Governor Otti commended the Federal Government and NDPHC for prioritising Abia in this strategic intervention. He also applauded President Bola Tinubu’s ongoing reforms in the power sector, which he said have expanded the national electricity framework to encourage stronger state participation, private sector investment, and global partnerships.
The governor further revealed that the state government has budgeted for an additional 7.5MVA Injection Substation in the 2026 fiscal year, which will raise the combined capacity in the Ogurube Layout area of Umuahia to 15MVA once completed.
NDPHC Managing Director/CEO, Jennifer Adighije, an engineer, who was represented at the event by Executive Director, Networks, Bello Babayo Bello, reaffirmed the company’s commitment to expanding access to reliable and sustainable electricity nationwide.
She said the Umuahia project reflects NDPHC’s mandate to empower communities and drive economic development.
When completed, the substation is expected to strengthen electricity supply, support small businesses, promote industrial development, and ultimately improve the quality of life for residents of Umuahia and surrounding communities.
The NNPC/Heirs Energies OML 17 Joint Venture yesterday advanced Nigeria’s gas commercialisation and environmental initiative with the symbolic signing of Gas Flare Commercialisation Agreements under the Nigerian Gas Flare Commercialisation Programme (NGFCP) and approved Non-NGFCP frameworks.
The ceremony, which held in Lagos, marks a significant transition from regulatory approvals to structured commercial execution, enabling flare gas volumes across OML 17 to be captured and deployed for productive use, including power generation, industrial applications, LPG and CNG, in alignment with Nigeria’s gas development priorities and energy-transition objectives.
The agreements was signed between Heirs Energies, as operator of the OML 17 JV and approved flare gas offtakers – AUT Gas, Twems Energies, Gas & Power Infrastructure Development Limited (GPID), PCCD and Africa Gas & Transport Company Limited (AGTC) – under frameworks designed to eliminate routine flaring while converting previously wasted resources into economic value.
Speaking at the ceremony, the Chief Upstream Investment Officer, NNPC Upstream Investment Management Services (NUIMS), Seyi Omotowa, an engineer, representing NNPC Limited, described the milestone as a practical demonstration of Nigeria’s commitment to gas-based development.
“For us at NNPC Limited and NUIMS, flare gas commercialisation is not a compliance exercise; it is a strategic pathway to improving energy availability, deepening gas-based industrialisation and strengthening Nigeria’s position as a responsible energy producer. OML 17 has become a practical model of this vision, moving decisively from approval to delivery,” Omotowa said.
He commended Heirs Energies for disciplined execution and investment, noting that the JV continues to set benchmarks for operational delivery and gas development within Nigeria’s upstream sector.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Engr. Gbenga Komolafe, who was represented by Senior Manager, Ojo Ezekiel, reaffirmed the Commission’s support for the project, describing flare gas commercialisation as a cornerstone of Nigeria’s decarbonisation pathway under the Petroleum Industry Act (PIA) 2021.
“This ceremony demonstrates Heirs Energies’ commitment to eliminating routine gas flaring across OML 17 and aligns fully with the Commission’s Gas Flare Commercialisation Programme and national energy and emission-reduction objectives,” Ezekiel said.
Heirs Energies’ Chief Executive Officer, Osa Igiehon, noted that the agreements reflect the company’s broader gas-led strategy and brownfield excellence approach, focused on creating long-term value for Nigeria.
“Gas sits at the heart of Nigeria’s development journey. Through disciplined investment, partnership with regulators and credible offtakers, and a clear execution focus, we are converting waste into value, strengthening domestic energy supply and supporting responsible operations across OML 17,” he said.
The NGFCP and Non-NGFCP flare gas projects build on recent operational progress by the OML 17 JV, including a significant increase in gas delivery to the domestic market through brownfield interventions and infrastructure optimisation. The JV has also continued to deepen its host-community partnerships through targeted healthcare interventions, education support and skills-development programmes across its areas of operation.
With the symbolic signing completed, the flare gas offtakers are expected to progress into full project implementation, working closely with the JV, regulators and communities to deliver commercial, environmental and social outcomes.
The OML 17 NGFCP initiative reinforces Nigeria’s position as a gas-led economy, supporting domestic power generation, industrial growth and responsible resource development while advancing the country’s energy-transition objectives.
-
Art & Life8 years agoThese ’90s fashion trends are making a comeback in 2017
-
Entertainment8 years ago
The final 6 ‘Game of Thrones’ episodes might feel like a full season
-
Art & Life8 years ago
According to Dior Couture, this taboo fashion accessory is back
-
Entertainment8 years ago
The old and New Edition cast comes together to perform
-
Sports8 years ago
Phillies’ Aaron Altherr makes mind-boggling barehanded play
-
Business8 years ago
The 9 worst mistakes you can ever make at work
-
Entertainment8 years ago
Mod turns ‘Counter-Strike’ into a ‘Tekken’ clone with fighting chickens
-
Entertainment8 years ago
Disney’s live-action Aladdin finally finds its stars