Regulator Pushes Investors to Build Out West Africa’s Petroleum Trading Hub

Nigeria’s Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is calling for a sharp increase in investment in infrastructure, logistics and operational efficiency to position West Africa as a credible petroleum pricing and trading hub.

The regulator says the region has significant untapped potential to become a major player in the global petroleum market, but that realising it will require better transportation and storage infrastructure to cut costs and boost profitability for traders and other stakeholders.

NMDPRA says the effort will depend on investors, regulators and other industry players working together to close existing infrastructure gaps and adopt best practices, arguing the payoff would be a more trusted, efficient trading hub that strengthens West Africa’s standing in the global petroleum market.

Source: nannews.ng