Abuja: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says its forthcoming West Africa Refined Fuel Market Conference will identify critical infrastructure gaps. It said that the conference would also attract strategic investments and establish a credible African petroleum price benchmark. The Authority Chief Executive of NMDPRA, Malam Rabiu Umar, announced this at a press conference in Abuja on Thursday.
According to News Agency of Nigeria, the initiative aims to strengthen Africa’s refining and downstream petroleum value chain while supporting the emergence of a transparent and competitive regional pricing and trading hub. The conference, organized in collaboration with SandP Global Commodity Insights and the West Africa Regulators Forum (WARF), is scheduled to take place from Aug. 11 to Aug. 12 in Abuja. It has the theme, ‘Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks’.
Umar, who also chairs WARF, stated that the event would bring together regulators, investors, financial institutions, and industry leaders to develop practical solutions for financing critical infrastructure and logistics. ‘Regulators provide the framework that enables fair competition, market transparency, investor confidence, consumer protection, and regional cooperation. They also work to harmonize standards and facilitate cross-border trade,’ he said.
Umar emphasized the importance of investments in pipelines, storage terminals, ports, rail systems, road networks, refineries, and digital trading platforms, which could reduce supply costs, improve energy security, and enhance regional integration. ‘Improved infrastructure and market efficiency can reduce supply disruptions, lower logistics costs, encourage competition, and support more reliable access to petroleum products across the region,’ he added.
He further highlighted that energy markets extend beyond national borders. ‘Working together enables countries to optimize infrastructure, improve market efficiency, reduce duplication, and strengthen regional energy security,’ he said. Discussions will also explore establishing a credible African reference price benchmark to reflect regional market realities and promote transparent pricing mechanisms.
Umar noted that the inaugural conference, held in 2025, was conceived to address the challenge of Africa producing significant volumes of oil and gas while prices for its commodities are largely determined outside the continent. The vision is to establish West Africa as a credible regional marketplace where petroleum products are traded efficiently through improved infrastructure, harmonized regulations, and reliable market data.
Key achievements from the maiden edition included the establishment of the WARF, publication of West African reference prices, and the opening of the SandP Global Commodity Insights Regional Office in Abuja. Umar identified investment opportunities in gas processing, transportation, liquefaction, compression, petroleum storage facilities, pipeline development, Liquefied Natural Gas infrastructure, logistics corridors, digital commodity exchanges, trading platforms, and strategic petroleum reserves.
He described West Africa as one of the world’s fastest-growing energy markets, with expanding refining capacity, rising demand, and strategic opportunities across the petroleum value chain. Umar urged the media to advance discussions on energy security, infrastructure development, and regional market integration.