NMDPRA seeks stronger regional cooperation to build West African petroleum market

By Onu Okorie

Chief Executive of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Rabiu A. Umar, has reaffirmed the Authority’s commitment to working with regional partners and industry stakeholders to build a transparent, liquid and resilient West African petroleum market.
Umar made the commitment yesterday at the close of the second edition of the West Africa Refined Fuel Market Conference in Abuja, where stakeholders called for stronger financing, deeper regulatory convergence and enhanced regional cooperation to accelerate the development of an integrated West African petroleum price-referencing market.
The two-day conference was organised by NMDPRA in collaboration with S&P Global Commodity Insights and the West African Regulators Forum, bringing together government officials, regulators, industry leaders, investors and market experts from across the region.
Speaking at the conference, Umar said West Africa’s ambition to become a credible centre for petroleum price referencing and trading would require sustained investment, cross-border regulatory cooperation and operational resilience.
He stressed that achieving the objective would depend not only on developing strategic plans but, more importantly, on ensuring their effective and comprehensive implementation.
According to him, stakeholders must translate commitments and policy decisions into concrete actions capable of strengthening the regional petroleum market and positioning West Africa as a credible hub for petroleum price discovery and trading.
The NMDPRA chief further emphasised the importance of collaboration among countries and regulatory authorities in addressing challenges that could hinder the development of an integrated regional market.
Financing, Infrastructure Take Centre Stage
Discussions at the conference focused extensively on measures to strengthen the regional petroleum market, with participants highlighting the need for sustainable financing, bankable infrastructure projects and predictable regulatory frameworks to support cross-border petroleum trade.
The second day featured panel sessions focusing on financing strategic infrastructure, regulatory convergence and strengthening collaboration among regulators and industry stakeholders.
Participants noted that deeper cooperation among West African countries would be critical to creating an efficient, transparent and resilient petroleum market capable of supporting regional economic growth.
They also stressed the importance of attracting investment into infrastructure required to facilitate the movement and trading of refined petroleum products across national borders.
Stakeholders Seek Integrated Market
The conference ended with renewed calls for stronger collaboration among regulators, investors and industry players to unlock infrastructure investment, deepen regional petroleum trade and establish a more integrated West African refined fuel market.
Stakeholders agreed that greater regulatory alignment and coordinated action would be essential to achieving a regional petroleum price-referencing system capable of improving transparency, liquidity and efficiency in the market.
The conference therefore underscored the need for West African countries to move beyond policy commitments and strategic plans to concrete implementation that would strengthen the region’s petroleum market and enhance its competitiveness in global energy trading.