The Chairman of the Advisory Board, Oil Trading and Logistics (OTL) Africa Downstream Energy Week, Otunba Tunji Oyebanji, has declared that Dangote refinery is a game-changer in Nigeria.
He described it as a watershed and one of the best things that has happened to Nigeria.
Speaking during a pre-OTL media conference in Lagos, he noted that the 650,000 capacity refinery built for about $20 billion at Free Zone, Lekki, Lagos has also brought a shaking in the industry.
Oyebanji said, “I just said, how can one man envision something like this, and this thing is built? And when you hear some of the stories about that place, the landmass is seven times the size of Victoria Island.
“To even acquire such land, what you have to do and how you have to go about it is a feat. The amount of money kept on going up. It’s a watershed, it’s a game changer, and I think it is one of the best things that has happened to Nigeria
“What I believe, frankly, is that when such a game-changer comes into being in any industry, there’s a shaking in the industry. There will always be, whether it be banking. There’s always going to be a shaking where one time needs to find its level.”
He stated that the gas and energy value chain will converge in Lagos from the 26th to the 31st of October for the 2025 edition of the OTL Africa Downstream Energy Week.
He explained that organised in collaboration with the Nigerian Midstream and Downstream Petroleum Regulatory Authority and other strategic partners, the OTL Africa Downstream Energy Week encompasses end-to-end operations and services in midstream and downstream business, incorporating a strategic conference, showcase exhibition and networking events.
Oyebanji said: “This event has, over the last 19 years, set an agenda for downstream sector development not only in Nigeria, but across West Africa and the wider African region.
“Yearly, stakeholders come in from far and near to rub minds, interact and deepen relationships that drive their business and the market as a whole. Policy and executive action equally rely on this event for crucial insights on which to anchor their engagements with the industry.
“In Nigeria, there is no doubt that the year has been one of action, tension and intervention by a range of players. The deregulated market, which we valiantly advocated for many years, is now upon us, and all interested parties are still trying to achieve balance and equilibrium in the new regime. While this has come with controversy, we believe that the market will achieve balance in the very near future.
“That is why OTL this year is appropriately themed: “Energy Sustainability – Growth Beyond Boundaries and Competition,” in recognition of the rapidly evolving downstream petroleum landscape, which has competition taking centre-stage. OTL 2025 will feature high-level engagement on regulatory collaboration, including ministerial and regulator panels involving five West African countries.
“More than sixty speakers will, across ten strategic sessions, provide insight into market trends, innovations, opportunities and targets, with anchor themes focused on strategic investment, finance, technology and corporate realignment.
“As the continent’s premier showcase platform for downstream energy, delegates and visitors are expected to experience a showcase of innovations, services and technology at the OTL Trade Exhibition, with leading industry brands on hand to engage with the market.
“Focus areas include oil refining, petroleum products trading, shipping, tank storage, logistics, marketing and retail, in addition to LPG, lubricants, petrochemicals, power, financial services and policy.
“The week has also been curated to offer memorable visits to production hubs, including the Dangote Refinery Complex. Other exciting highlights include a range of networking sessions, receptions and social events that promise to give international and local visitors an unforgettable experience of Lagos.
“OTL Africa Downstream Energy Week has, over the past eighteen years, redefined the downstream energy market indelibly, staying at the forefront of setting the agenda, promoting business and operations.
“We are looking forward to an exciting week ahead, and to hosting Lagosians together with Nigerian and international visitors to impactful, fun-filled days of information, networking and business deals.”
