ABUJA — The Federal Government has restated its resolve to transform Nigeria into the marketing hub for refined petroleum products across the West African sub-region.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., made the disclosure while delivering the keynote address at the West African Refined Fuel Market Conference organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The conference, themed “Creating a West African Reference Market for Oil & Gas Products,” brought together industry stakeholders, regulators, and investors in Abuja to deliberate on the strategic imperatives for regional market integration.
According to Senator Lokpobiri, the government’s vision is to position Nigeria at the forefront of refined petroleum trade in West Africa. “Our ambition is to ensure Nigeria becomes the center of refined product marketing in West Africa. That is why we are giving continuous support to our refiners and stakeholders to stimulate growth and create a world-class trading ecosystem,” he said.
He emphasized that Nigeria’s advancement in the midstream and downstream petroleum sectors is complemented by robust progress in upstream activities, owing to targeted policy reforms. “We are witnessing considerable growth across the value chain, and this is no coincidence. It is the result of deliberate policy interventions,” the Minister stated.
Lokpobiri also commended President Bola Ahmed Tinubu for the removal of fuel subsidy, describing the move as a bold and strategic catalyst for private sector participation in the downstream sector. “The removal of petroleum subsidy is already triggering expansion in the market and encouraging private sector investment,” he noted.
He further applauded indigenous players in the refining space and urged both local and international investors to tap into the opportunities in Nigeria’s evolving oil and gas landscape. “By expanding our refining capacity, we won’t just meet domestic demand — we will service the entire West African market and beyond,” he concluded.
The Minister’s remarks underscore the Federal Government’s commitment to fostering regional energy security through enhanced refining capacity, regulatory stability, and private sector collaboration.
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