Backbone Infrastructure Nigeria Limited (BINL) has unveiled plans to build and operate a 500,000 bbl/d (10 Mt/year) oil refinery at the Sunshine Industrial Park in Ogboti, Eruuna, and the Sunshine Free Trade Zone (FTZ), located in Ilaje Local Government Area of Ondo State (Nigeria). The project, which is developed in partnership with the Ondo State Government, would require an investment of US$15bn, with the first phase scheduled for completion in 2029.
The country has a total refining capacity of about 1.1 mb/d (55 Mt), thanks to the partial commissioning of the 650 kb/d (32.5 Mt/year) Dangote refinery in 2024, which reached full capacity in early 2025. Oil products output has been multiplied by 13 in 2024 to 11 Mt, with the start of the new refinery. About two thirds of the refined products output was exported. Since 2021, oil product consumption has been fluctuating around 20-21 Mt/year.
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