….insist on local reference pricing to shield Africa from overseas shock
Nigeria and regulatory authorities across West Africa are pushing to establish an integrated regional market for crude and refined petroleum in a major effort to strengthen energy security and curb reliance on foreign pricing benchmarks.
Spearheaded by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the West Africa Regulator Forum (WARF), the collaborative initiative aims to harmonise regulatory frameworks, develop shared energy infrastructure—including cross-border pipelines, storage hubs, and processing facilities—and build a localised trading system that reflects regional supply realities.
Rabiu Umar, Authority Chief Executive of the NMDPRA, stated during the WARF conference in Abuja on Tuesday that while Africa possesses resources, demand, and expanding refining capacity, there is a distinct need for infrastructure that efficiently connects all three.
The continent requires regional integration to optimise existing assets, reduce unnecessary duplication, and direct scarce capital towards infrastructure with the greatest regional economic impact.
