The Managing Director, 11 Plc, Tunji Oyebanji, has described the 650,000 barrels per day Dangote Petrochemical Refinery as not only a testament to Nigeria’s industrial capacity but a transformative development for the entire West African region.
Oyebanji who was speaking at the ongoing 18th Africa Downstream Energy Week in Lagos, said this milestone together with the recent full deregulation of Nigeria’s downstream sector, along with the shift to a market-based gasoline pricing system will shape industry dynamics for years to come, impacting everything from refining operations and distribution to market competition and consumer access.
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Oyebanji who is also the Chairman, OTL Africa Downstream Energy Week stressed that deregulation introduces new opportunities for competition, transparency, and efficiency, while market-based pricing sets a pathway for stability and fair value distribution across the supply chain.
He said this year’s event will among others how global and regional trends are reshaping the supply and demand landscape in Africa, giving critical insight into the market’s trajectory.
“Now that market-based pricing is a reality, this session will address its impact on profitability, market accessibility, and fair pricing practices for consumers and industry players alike. With the addition of the Dangote Refinery, we’re on the brink of an unprecedented refining capacity shift in Nigeria, another session will look at how these changes impact the broader petroleum value chain.
“As we seek sustainability, alternative energy sources. This session will address the role of gas, either LPG, CNG, and renewables, in building a balanced and resilient energy landscape for Africa.
“As petroleum shipping faces regulatory and logistical hurdles, this discussion will examine how we can streamline and secure this critical part of our value chain”, he stated
