The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., has reaffirmed the Federal Government’s commitment to strengthening Nigeria’s energy security, promoting investment, and deepening market transparency across the midstream and downstream petroleum sectors.
Speaking in his Goodwill Message at the West Africa Refined Fuel Market Conference 2026, themed “Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks,” Lokpobiri said energy security must begin with the fulfillment of domestic obligations before extending to international commitments.
“Energy security starts with fulfilling our domestic obligations before extending to international obligations,” he stated, noting that the full deregulation of the downstream sector under President Bola Ahmed Tinubu’s #RenewedHope Administration has created a framework in which stakeholders are increasingly delivering on their responsibilities.
The Minister said the conference goes beyond establishing a sustainable pricing mechanism, stressing that it provides an important platform to showcase the competitive advantages and emerging opportunities in Nigeria’s and Africa’s midstream and downstream sectors.
He added that Nigeria, as a critical partner in the global energy market, continues to promote a conducive operating environment for investors.
“Under President Bola Ahmed Tinubu, Nigeria continues to implement measures and initiatives designed to unlock the full potential of the petroleum sector,” Lokpobiri said.
He emphasized that increased refining capacity, efficient distribution infrastructure, transparent pricing, and stronger regional integration remain critical to building a competitive West African refined-fuel market and positioning Africa as a stronger player in global energy trade.
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