**Domestic Refining: The Key to Unlocking Nigeria's Economic and Power Challenges** The Centre for the Promotion of Private Enterprise (CPPE) has highlighted the critical role of domestic refining in solving Nigeria's power and economic crisis. With the current surge in global energy prices, driven by escalating geopolitical tensions in the Middle East, businesses across the country are facing increased cost pressures. These pressures are particularly severe in Nigeria, where many enterprises rely heavily on petrol and diesel to power their operations due to persistent electricity supply challenges. Dr. Muda Yusuf, CEO of CPPE, noted that the impact of rising energy prices is felt most by small and medium enterprises, which are already struggling with multiple macroeconomic pressures, including high inflation, elevated interest rates, and weak consumer purchasing power. The centre warned that if left unaddressed, rising energy costs could erode profit margins, weaken business sustainability, and dampen economic growth. To mitigate the impact of the current energy crisis, CPPE outlined key strategic measures that both businesses and government should adopt. Improving energy efficiency is identified as the quickest and most cost-effective strategy for businesses to manage rising energy costs. CPPE urged businesses to undertake a comprehensive review of their energy consumption patterns to minimize waste and maximize productivity per unit of energy used. In addition to improving energy efficiency, CPPE emphasized the importance of domestic refining. By refining crude oil domestically, Nigeria can reduce its reliance on imported petroleum products and lower the costs associated with transportation and distribution. This, in turn, can help to stabilize energy prices and boost economic growth. Nigeria's economy is heavily reliant on oil exports, but the country's refining capacity is woefully inadequate. The four refineries in the country, which have a combined capacity of 445,000 barrels per day, are operating at a fraction of their capacity due to years of neglect and lack of investment. The result is that Nigeria imports over 70% of its petroleum products, incurring significant costs and losses. In conclusion, CPPE's recommendations highlight the need for Nigeria to prioritize domestic refining as a key strategy for solving its power and economic crisis. By improving energy efficiency and increasing domestic refining capacity, Nigeria can reduce its reliance on imported petroleum products, lower energy costs, and boost economic growth.