The Lagos State Government says it is in advanced discussions with a new investor to establish a second private oil refinery in the state. Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Abiodun Olumide, said the prospective project would complement existing refining capacity and help reduce fuel import dependency in Nigeria.
The planned refinery would be Lagos’ second major private facility, building on the success of the Dangote Refinery located in the Ibeju-Lekki area.
The move aligns with federal and state efforts to drive industrial growth through private sector investment.
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Officials said discussions are ongoing and that details including capacity, financing, and timelines will be announced once formal agreements are concluded.
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