State Gov’t Confirms Ongoing Talks — Industrial Expansion Gains Momentum
Lagos State may soon become home to a second private refinery, as fresh discussions with a new major investor continue to take shape, according to a top government official.
The revelation came from the Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Abiodun Olumide, during the Economic Roundtable Discussion hosted by the Economic Intelligence Department of the Ministry of Economic Planning and Budget at Protea Hotel, Alausa, Ikeja.
🏭 Why Lagos Is Attracting More Refinery Investors
Dr. Olumide noted that Lagos has rapidly evolved into a prime destination for large-scale industrial and petrochemical investments, thanks to its strategic positioning, infrastructure expansion, and business-friendly reforms.
With the Dangote Refinery already reshaping Nigeria’s energy landscape, private investors are now exploring additional refinery footprints within the state — signalling stronger confidence in Lagos as an industrial powerhouse.
💬 Conversations Already Underway
The commissioner confirmed that talks for establishing another private refinery are ongoing, stressing that the private sector remains a critical driver of major capital projects across Lagos.
🚀 What This Means for Lagos & Nigeria
• Increased refining capacity
• More jobs and industrial growth
• Reduced reliance on imported petroleum products
• Strengthened state revenue and economic competitiveness
Lagos appears ready to cement its position as West Africa’s refining and petrochemical hub, with more groundbreaking developments expected soon.
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