Omuojine Calls for Modular Refineries to Strengthen West African Fuel Security

Omuojine stated that Nigeria and West African countries require modular refineries strategically positioned near demand centers to improve supply security and downstream competition. This approach would strengthen petroleum sector resilience against current vulnerabilities.

He cautioned that depending on a single fuel supply source creates a fragile system, even though it appears convenient. Omuojine also warned that compelling suppliers and refineries to sell below international market parity could discourage investment and lead to artificial scarcity.

Omuojine further argued that coastal refineries should operate at competitive market prices to ensure domestic crude supply, rather than being forced to sell products below prevailing market rates.