Otedola Partners Singapore Firm on Proposed Delta Refinery Project

Nigerian billionaire businessman Femi Otedola is in talks with a Singapore-based private refining company to establish a sustainable fuel refinery in Delta State aimed at boosting domestic supply and reducing fuel costs across Nigeria.

According to details from the meeting, Otedola disclosed that he has already secured the necessary licenses from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and fulfilled all regulatory and standard requirements required by relevant authorities for the proposed project.

The planned refinery, if completed, is expected to supply petroleum products nationwide at more affordable rates, addressing long-standing concerns over fuel availability and pricing.

However, the Singaporean refining company is still reviewing the proposed partnership. Otedola expressed optimism that once an agreement is reached, work on the refinery project will commence immediately.

Industry stakeholders say the move could significantly enhance Nigeria’s refining capacity and contribute to energy security if successfully executed.