Reporting by Vanguard indicates that the management of Clarivo Refinery has announced a strategic roadmap to significantly reduce Nigeria’s dependence on imported petroleum products by the year 2035. The refinery, which is part of a new wave of private energy investments, aims to scale its production capacity to meet both domestic demand and export requirements. This announcement comes as the federal government continues to encourage private modular and large-scale refineries to stabilize the energy sector.
The management emphasized that the refinery will focus on high-efficiency output and local value addition, ensuring that crude oil produced in Nigeria is refined within the country. This move is expected to save the nation billions in foreign exchange and create thousands of direct and indirect jobs in the downstream sector. The project is seen as a major win for the “Renewed Hope” economic agenda which prioritizes domestic energy security.
The development was also validated by The Nation and Leadership. The Nation mentioned that “Clarivo is seeking further partnerships for its petrochemical wing,” while Leadership noted that “the refinery’s first phase is already 60% complete.”
Echotitbits take:
With the Dangote Refinery already operational, the addition of Clarivo suggests Nigeria is finally moving toward becoming a net exporter of refined products. Watch for the competition between these private giants to potentially drive down local pump prices through increased supply.
Source: Vanguard – https://www.vanguardngr.com/2026/01/clarivo-oil-plans-world-class-refinery-in-nigeria-ceo-obidike/, January 31, 2026
Photo credit: Vanguard
