Nigeria is set to get 4 new South Korean built refineries

Nigeria plans to partner with a South Korean consortium to construct four new refineries, each with a capacity of 100,000 barrels per day, to enhance domestic oil production and reduce reliance on imported petroleum products.

The initiative, announced by the Minister of State for Petroleum Resources, Heineken Lokpobiri, aims to create a public-private partnership model to attract investment in the oil sector.

With the recent commencement of operations at the Dangote refinery, Nigeria seeks to bolster its refining capabilities and transform into Africa's petroleum refining hub, moving away from past dependence on imports.