By Obiabin Onukwugha
The Authority Chief Executive (ACE) of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Saidu Mohammed has reviewed operations at Nigeria’s downstream petroleum sector, remarking that the sector is witnessing an irreversible renaissance, driven by reforms, investment, and regulatory clarity.
Mohammed made this assertion while delivering a keynote address at the ongoing Nigeria International Energy Summit (NIES) 2026 on Wednesday.
He noted that under the Petroleum Industry Act, Nigeria’s downstream market is now fully liberalised and “no longer defined by scarcity and supply uncertainty,” with pricing increasingly determined by market fundamentals.
The Authority Chief Executive described the Dangote Petroleum Refinery as a major game changer and attributed ongoing economic reforms to a reduction in import-related fiscal losses of over ₦6 trillion.
He emphasised that regulation remains central to sustainable growth and must enable value, not inhibit it. He also noted that confidence is the true currency of any market.
He, therefore, assured stakeholders that the current dispensation will deliver a regulator that is fair, firm, and decisive in overseeing the midstream and downstream sectors.
