By Atoyebi Nike
The Chairman of the OPEC Board of Governors for 2025, Adeyemi-Bero, has called on Nigerian oil producers to scale up local refining and reduce crude exports. He said the country must build capacity at home to avoid relying on external markets for value addition.
At the NAPE Pre-Conference Workshop in Lagos, he noted that the Dangote refinery has eased pressure on foreign exchange and supported GDP growth. He added that its operations helped prevent a possible return of fuel subsidies by ensuring domestic supply.
Adeyemi-Bero pointed to countries such as Saudi Arabia and the UAE, which retain more value by processing their resources internally. He suggested that Nigeria could strengthen the naira by increasing local utilization of crude and exploring oil sales in naira where feasible.
He warned that Nigeria risks long-term economic strain if it continues to depend heavily on exports. He also encouraged local companies to take the lead in driving the industry, saying international oil firms have already laid the foundation.
According to him, energy remains central to Nigeria’s ambition of becoming a $1 trillion economy. He stressed that national development depends on reliable access to fuel and electricity.
