Clarivo Refinery to reduce oil importation by 2035 — Management

Clarivo Oil and Gas has announced plans aimed at reducing Nigeria’s reliance on imported petroleum products by 2035, following ongoing preparations to develop a domestic refinery.

The plan was disclosed during a board meeting chaired by the company’s Chairman, Chief Obidike Chukwuebuka, where strategic decisions on Clarivo’s long-term investments in the energy sector were reviewed.

Speaking with journalists, Chief Obidike said the proposed refinery is a key component of Clarivo Oil and Gas’ strategy to expand local refining capacity, enhance energy security, and add value to Nigeria’s crude oil resources.

He noted that the project aligns with national objectives to reduce fuel importation, conserve foreign exchange, and create employment opportunities across the oil and gas value chain.

According to him, the company is committed to supporting Nigeria’s drive toward energy independence, stressing that the refinery initiative is intended to contribute to sustainable economic growth by 2035.

Chief Obidike added that the proposed facility is expected to process crude oil locally for domestic consumption, with potential for exports within the West African sub-region. He also said the project could stimulate growth in related sectors such as engineering, logistics, and petrochemical services.

He further disclosed that feasibility studies and regulatory engagements are ongoing, reaffirming that the refinery project remains a central part of Clarivo Oil and Gas’ expansion plans and its contribution to Nigeria’s industrial development.

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