Nigeria, others require $100b in refining investment as oil demand soars
Nigeria and other African countries’ crude oil demand is set to more than double to 4.5 million barrels per day (bpd) by 2050 and will need more than $100 billion in investment in refining over the next decades, according to the African Refiners and Distributors Association (ARDA). Thanks to population growth, urbanization, and industrialization, Africa’s…