By Ali Elias
The Crude Oil Refiners Association of Nigeria (CORAN) has unveiled plans for its Summit 2025, scheduled for October 6–7 at Eko Hotels & Suites in Lagos. Themes of energy security and investment will dominate under the banner “Refining – Key to Energy Security in Africa”, drawing top leaders from government, industry, finance, and civil society.
Addressing a Persistent Refining Deficit
Despite being endowed with abundant crude, Africa remains heavily dependent on imported refined products. Nigeria, for example, has historically imported over 90% of its refined fuel, rendering its economy vulnerable to external price fluctuations and fueling foreign exchange pressures. The 2023 removal of fuel subsidies intensified awareness of this dependency, compelling policymakers to fast-track local refining solutions.
A Summit Poised for Transformation
The upcoming summit promises to go beyond rhetoric, featuring keynote sessions, technical panels, strategic networking, and exhibitor showcases. Among the focal topics are investor-friendly policy frameworks, financing and risk mitigation strategies, cutting-edge cleaner refining technologies, regional synergy via the African Continental Free Trade Area (AfCFTA), energy transition, and job creation in refining and petrochemicals.
“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,” said Momoh Jimah Oyarekhua, President of CORAN. He added that the summit is ‘not just another meeting; it is a rallying point for action, partnerships, and policy direction to transform the refining landscape.’
Growing Momentum and Strategic Alignments
Progress in Nigeria’s refining space is already palpable. The commissioning of both conventional and modular refineries, along with expanding private-sector participation and enabling policy reforms, are laying the foundation for a home-grown refining renaissance. Industry analysts note that these developments, if complemented by summit-level coordination and investor mobilization, could ignite broad transformation across the continent.
As Africa embraces cleaner energy models and regional integration via AfCFTA, the summit arrives at a strategic inflection point—potentially steering the continent away from chronic import dependency toward energy self-reliance and economic resilience.