To maximize potential and profit, Nigeria can repair the existing refineries in Port Harcourt, Warri, and Kaduna, which harbor a total capacity to produce 445,000 barrels per day.
Considering the 1.235 million barrels per day (bpd) produced just in December 2022, Nigeria is bound to maintain its rank as Africa’s top oil producer and potentially the largest by 2025, per a report called ‘Refineries Watch Q4 2022’ by pan-African investment research firm Hawilti, cited by local media.
The report states that “both the opening of the Dangote refinery and the rehabilitation of state-owned refineries have the potential to make Nigeria Africa’s biggest refining hub by 2025,” the report said.
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