Korede Abdullah 
ABUJA, Nigeria – The Lagos State Government has confirmed that preliminary discussions are underway to establish what would become the state’s second privately owned refinery, signalling renewed investor confidence in Lagos’ fast-expanding industrial and petrochemical corridor.
Commissioner for Physical Planning and Urban Development, Dr Oluyinka Abiodun Olumide, disclosed the development on Thursday during an Economic Roundtable hosted by the Ministry of Economic Planning and Budget in Alausa. He said Lagos continues to attract large-scale industrial investors, building on the momentum created by the Dangote Refinery in Ibeju-Lekki.
Olumide revealed that a new investor has already initiated early engagements with the state, describing the project as a clear reflection of private-sector appetite for high-value, capital-intensive ventures. “These are initiatives that should rightly be powered by the private sector. The government cannot take on every project, and there are viable opportunities for investors to explore,” he said.
He added that Lagos’ physical planning framework is deliberately designed to accommodate mega-projects capable of creating jobs, stimulating economic activity, and strengthening the region’s energy architecture. According to him, the state’s development blueprint remains broad enough to incentivise further industrial expansion.
“Dangote has demonstrated what private investment can achieve in Lagos. Now, another investor is coming in. Very soon, the refinery will have a competitor. Discussions have already begun on establishing an additional private refinery,” Olumide stated.
Industry analysts say a second refinery would significantly enhance domestic refining capacity, improve market competition, and support the state’s ambition to become West Africa’s foremost energy hub.
About the Author
Oluwatobi Adu 
Edino Chubiyo Cornelius 
Koko Maxwella 