The second edition of the West Africa Refined Fuel Market Conference has ended in Abuja with stakeholders called for stronger financing, regulatory convergence and enhanced regional cooperation to accelerate the development of an integrated West African petroleum price referencing market.
The two-day conference, organised by the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with S&P Global Commodity Insights and the West African Regulators Forum, brought together key government officials, regulators, industry leaders, investors and market experts.
Discussions at the conference centred on strengthening 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.
Day Two featured panel sessions focused on financing strategic infrastructure, regulatory convergence and strengthening collaboration among regulators and industry stakeholders.
Participants stressed that deeper cooperation among West African countries and regulatory authorities would be critical to creating an efficient, transparent and resilient petroleum market capable of supporting regional economic growth.
In his closing remarks, the Chief Executive of NMDPRA, Mallam Rabiu A. Umar, 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 said the region’s ambition to become a credible centre for petroleum price referencing and trading would require sustained investment, cross-border regulatory cooperation and operational resilience.
According to him, achieving the region’s petroleum market ambitions would depend not only on developing strategic plans but, more importantly, on ensuring their effective and wholesome execution.
He stressed the need for stakeholders to translate commitments and policy decisions into concrete actions capable of strengthening the region’s petroleum market and positioning West Africa as a credible hub for petroleum price discovery and trading.
The conference ended with renewed calls for greater 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.
