This October, Lagos will take centre stage in Africa’s energy transformation as the Crude Oil Refiners Association of Nigeria (CORAN) hosts its 2025 Summit at Eko Hotels & Suites, Victoria Island.
Over two days, leaders from industry, government, finance and civil society will convene under the theme “Refining: Key to Energy Security in Africa” to chart a new path for the continent.
Ending Import Dependence
Africa faces a long-standing paradox: despite its abundant crude oil, it relies heavily on imported refined fuel.
In Nigeria, for example, businesses and households once depended on imports for more than 90% of petrol.
When the government removed fuel subsidies in 2023, rising energy costs exposed the economy’s vulnerability and underscored the urgent need to boost domestic refining.
Building Africa’s Energy Future
Fortunately, change is underway.
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Investors are building new modular and conventional refineries, policy reforms are gaining traction, and private capital is flowing into the sector.
CORAN believes this momentum presents an opportunity to replace decades of costly imports with domestic refining, job creation and greater energy security.
During the summit, participants will explore investment strategies, innovative refining technologies, and regional integration under the African Continental Free Trade Area (AfCFTA).
They will also forge partnerships through technical panels, exhibitions, and high-level networking.
“After decades of exporting crude and importing refined products at great cost, it is time for Africa to refine at home and secure its energy future,” said CORAN President Momoh Oyarekhua.
In short, CORAN positions the summit not merely as a discussion platform but as a decisive step toward Africa’s energy independence.
