By Obiabin Onukwugha
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that Nigeria cannot afford to draw back on the progress made in the oil and gas sector.
Lokpobiri made the assertion in a good will message at the opening of the West Africa Refined Fuel Market Conference, organized by the Midstream Downstream Petroleum Regulatory Authority, NMDPRA, in collaboration with S&P Global and West African Regulators Forum in Abuja, on Tuesday.
The Minister described the conference as a turning point in Africa’s pursuit of energy sovereignty. He emphasised the need to sustain the momentum by attracting the investments required to expand refining capacity, develop critical petroleum infrastructure, strengthen distribution networks, and create a more competitive and resilient regional energy market.
In his opening speech, the Authority Chief Executive (ACE), Mallam Rabiu Umar, highlighted the significance of this year’s theme: “Funding West Africa Infrastructure & Distribution to Create a Transparent Market for Regional Price Benchmarks.”
He noted that the conference provides an important platform to take stock of the progress made since the inaugural conference in 2025, address outstanding challenges, and identify the investments and actions required to position West Africa as a credible petroleum pricing and trading hub.
The ACE underscored that the focus is clear: funding infrastructure and distribution, deepening market transparency, strengthening operational performance, and creating the physical and commercial conditions necessary for credible regional price benchmarks. While last year’s discussions centred on establishing the foundations, this year’s priority is firmly on execution.
He further emphasised the critical role of the West Africa Regulators Forum in advancing regional energy security. He stressed the need for regulators to move beyond localised oversight towards active facilitation of cross-border energy cooperation through regulatory convergence, information sharing, aligned standards, interoperable market rules, improved cross-border trade processes, and the development of a regulatory framework capable of supporting a deeper and more integrated regional market.
NMDPRA Executive Director, Economic Regulations and Strategic Planning, Prof. Zainab Gobir, emphasised that the true measure of the Forum’s success would be the progress achieved beyond the conference, through stronger collaboration, improved communication, and tangible action on shared priorities.
She urged member institutions to focus on implementation by clearly identifying responsibilities, focal points, and the support required to translate recommendations into coordinated action.
The conference concludes tomorrow with anticipated robust conversations aimed at consolidating the gains of the opening day and setting the template for further regional integration through product refining, market alignment, and price benchmarking.
