The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said its forthcoming West Africa Refined Fuel Market Conference will focus on attracting investment to address critical infrastructure deficits and accelerate the development of a credible African petroleum price benchmark.
Speaking at a press briefing in Abuja on Thursday, the Chief Executive of NMDPRA, Malam Rabiu Umar, said the conference would strengthen the region's refining and downstream petroleum sector while promoting a transparent and competitive regional trading market.
The two-day conference, organised in partnership with S&P Global Commodity Insights and the West Africa Regulators Forum (WARF), is scheduled to hold in Abuja from Aug. 11 to Aug. 12 under the theme: "Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks."
Umar, who also chairs WARF, said the gathering would bring together regulators, investors, financial institutions and industry stakeholders to identify practical financing solutions for critical energy infrastructure across West Africa.
He said investments in pipelines, storage facilities, ports, rail networks, roads, refineries and digital trading platforms were essential to improving market efficiency, lowering logistics costs, enhancing energy security and facilitating regional trade.
According to him, effective regulatory frameworks are critical to ensuring fair competition, investor confidence, consumer protection and the harmonisation of standards required for seamless cross-border petroleum trade.
Umar noted that energy markets transcend national boundaries, stressing that regional collaboration would help optimise infrastructure, eliminate duplication and strengthen energy security across West Africa.
He added that discussions at the conference would also examine the creation of an African petroleum reference price benchmark that reflects regional market realities and supports transparent pricing mechanisms.
The NMDPRA chief recalled that the inaugural conference in 2025 was conceived to address the long-standing challenge of African oil and gas prices being largely determined outside the continent despite its significant production capacity.
He said the initiative seeks to position West Africa as a credible regional petroleum trading hub through improved infrastructure, harmonised regulations and reliable market data.
According to him, key outcomes from the maiden conference included the establishment of the West Africa Regulators Forum (WARF), the publication of West African reference prices and the opening of the S&P Global Commodity Insights Regional Office in Abuja.
Umar identified major investment opportunities in gas processing, transportation, liquefaction, compression, petroleum storage, pipeline development, Liquefied Natural Gas (LNG) infrastructure, logistics corridors, digital commodity exchanges, trading platforms and strategic petroleum reserves.
Describing West Africa as one of the world's fastest-growing energy markets, he said expanding refining capacity and rising demand present significant opportunities across the petroleum value chain.
He also urged the media to sustain public engagement on energy security, infrastructure development and regional market integration.
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