Regulators overseeing midstream and downstream petroleum operations across West Africa have agreed to form a new body that will coordinate fuel pricing and improve petroleum product trade among countries in the region.
The decision was reached during the first-ever West African Refined Fuel Market Conference held in Abuja and jointly organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Commodity Insights.
Themed “West Africa Refined Fuel Market: Pathway to a Regional Reference Market,” the conference brought together key industry players and policymakers to chart a course for a more integrated and transparent regional energy market.
According to a communiqué released by the NMDPRA, the meeting resolved to establish a West African Regulators Forum and a Technical Working Group to implement agreed outcomes and monitor progress. The forum will work to align fuel pricing systems, standardize product quality, and remove trade barriers such as inconsistent tariffs, infrastructure gaps, and exchange rate challenges.
The NMDPRA, in partnership with the African Refiners and Distributors Association, will coordinate the forum’s activities and ensure that the timelines in the roadmap are met.
Stakeholders also agreed to develop regional trading hubs for petroleum products and natural gas in Nigeria, create transparent pricing assessments, and encourage domestic refining expansion through better feedstock access and investment incentives.
Other resolutions included the introduction of harmonized pricing frameworks, transparent market data systems, and the establishment of an annual regional energy conference to sustain collaboration.
Speaking at the event, NMDPRA Chief Executive Farouk Ahmed expressed optimism that the forum would accelerate the creation of a unified fuel market across West Africa. “This initiative marks a major step toward building a regional energy hub that supports economic growth and energy security,” he said.
S&P Global’s Head of Market Reporting and Trading Solutions, Vera Blei, added that the collaboration would enhance market transparency and strengthen Africa’s role in global energy pricing.
The conference concluded with a shared commitment to drive refinery expansion, improve storage capacity, and leverage digital platforms to boost downstream investments and supply chain visibility across the continent.
