Rep. Ikenga Ugochinyere, the Chairman of the House Committee on Petroleum Resources (Downstream), has pledged legislative support for the establishment of a transparent West African refined fuel pricing benchmark.
Ugochinyere made the commitment at the West Africa Refined Fuel Market 2026 Conference in Abuja, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday.
The conference has the theme: “Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks.”
Ugochinyere said the emergence of West Africa as a refining hub made it imperative for the region to develop a credible benchmark for refined petroleum products.
He said the region had historically been a “price taker” despite being a major consumer of refined petroleum products.
