The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says fragmented regional infrastructure is undermining efficiency and price transparency in West Africa’s downstream oil and gas market, singling out low-value refining and storage projects as obstacles to building a credible trading hub.
The authority is calling for heightened investment in infrastructure, logistics and operational efficiency to position West Africa as a reputable petroleum pricing and trading hub, arguing the region’s strategic location gives it the potential to compete with established global hubs if the right systems are in place.
NMDPRA says closing the infrastructure gap will require investors, regulators and other industry stakeholders to work together, with a better-integrated regional network expected to lower costs, improve price transparency and attract more investment, jobs and economic activity to the region.
Source: orientalnewsng.com, nannews.ng
