The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced plans to host the second West Africa Refined Fuel Market Conference in Abuja as part of efforts to strengthen regional fuel trading and establish a transparent pricing system for petroleum products across the sub-region.
Speaking at a media briefing in Abuja, the Chief Executive of the NMDPRA, Farouk Ahmed, represented by the Executive Director, Hydrocarbon Processing Plants, Installation and Transportation Infrastructure, Francis Ogaree, said the conference will take place from August 11 to 12 in collaboration with S&P Global Commodity Insights and the West Africa Regulators Forum (WARF).
He said the conference is designed to deepen collaboration among governments, regulators, investors and industry stakeholders to improve market transparency, attract infrastructure investment and develop a credible regional pricing benchmark for refined petroleum products.
According to him, Africa remains a major producer of oil and gas, yet pricing for many of its petroleum products is still influenced by benchmarks developed outside the continent. He noted that the conference seeks to advance efforts to create a market-driven pricing system that reflects regional realities.
The NMDPRA chief said significant progress has been made since the inaugural conference held in 2024. These include the establishment of the West Africa Regulators Forum, the publication of regional reference prices and the opening of an S&P Global Commodity Insights office in Abuja.
This year’s conference will focus on mobilising investment for infrastructure needed to support a competitive regional fuel market. Discussions will cover financing options for refining facilities, pipelines, storage terminals, ports, transport networks and digital trading platforms.
He explained that modern infrastructure would reduce supply bottlenecks, improve energy security, lower logistics costs and encourage cross-border trade in petroleum products.
The conference will also examine ways to strengthen collaboration among regulators, improve data availability, promote transparent pricing mechanisms and expand refining capacity across West Africa.
Expected outcomes include new investment partnerships, policy recommendations, financing initiatives for energy infrastructure, stronger cooperation among regulators and increased private sector participation in the region’s downstream petroleum sector.
The authority said West Africa’s growing refining capacity, rising energy demand and strategic location present an opportunity to build a more integrated and competitive petroleum market capable of supporting long-term economic growth and reducing dependence on imported fuel pricing benchmarks.
NMDPRA urged the media and other stakeholders to support the initiative by promoting discussions on energy security and regional market integration ahead of the conference.
