The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to prioritise domestic refining in line with the Nigeria-First Policy agenda.
The Centre made the call in a statement issued by its Chief Executive Officer, Muda Yusuf, on Thursday, December 25.
“The NMDPRA must therefore place domestic refining at the centre of its policy framework, in line with the President’s Nigeria-First policy direction and industrialisation agenda.
“This is not merely to protect investors but to safeguard Nigeria’s long-term economic interests,” the organisation urged.
According to CPPE, a strong domestic refining base is fundamental to building a resilient, energy-secure and sovereign economy.
It is also critical for job creation, foreign exchange conservation, macroeconomic stability and the development of export-orientated refining capacity.
“More importantly, domestic refining is a major pathway to backward integration and resource-based industrialisation. Supporting refineries strengthens Nigeria’s petrochemical, fertiliser and allied industries, thereby creating broader industrial value chains that drive inclusive growth, CPPE maintained.
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It said, in the downstream segment, strong and deliberate support for domestic refining must be an immediate and non-negotiable priority.
It stressed that government policy should clearly favour locally refined petroleum products through targeted fiscal, regulatory and infrastructural support for both public and private refineries, while actively encouraging new investments in refining capacity.
“Nigeria must end the current distortion whereby imported petroleum products are made to compete with locally refined products under unequal regulatory and fiscal conditions. This does not constitute fair competition. Genuine competition only exists when all operators function within the same policy, tax and regulatory environment,” CPPE said.
Ramp up oil and gas output to attract new investments
Similarly, on the upstream side, the Centre said the country must urgently ramp up crude oil and gas production by implementing policies that attract fresh investments across onshore and offshore assets.
It said this is particularly critical as the global energy transition accelerates. Nigeria must maximise the value of its hydrocarbon endowments while the opportunity still exists.
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“The NUPRC (Nigerian Upstream Petroleum Regulatory Commission) should prioritise production growth, investment facilitation and improved security, with a clear national objective of raising crude oil output to a minimum of two million barrels per day through close collaboration with industry stakeholders. Expanded investment in gas production must also be a central focus.
Ensuring Compliance with domestic crude supply obligations to domestic refineries must be a priority.
“These strategic imperatives must define the direction of Nigeria’s new petroleum regulatory leadership if the sector is to drive sustainable growth, industrialisation, and long-term economic resilience effectively,” the CPPE urged.
The Centre commended President Bola Tinubu for the recent reset of leadership at the NMDPRA as well as the NUPRC.
It believes that the appointments present a strategic opportunity to reposition the oil and gas regulatory environment in line with the administration’s commitment to energy sovereignty, energy security, self-reliance and accelerated production growth.
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“The new leadership of Nigeria’s petroleum regulatory institutions must urgently refocus sector priorities on reducing import dependence, expanding domestic capacity and catalysing investment across the entire oil and gas value chain,” CPPE added.
Pinnacle Daily reported that Farouk Ahmed and Gbenga Komolafe recently resigned as chief executives of NMDPRA and NUPRC, respectively.
The resignation followed long-running tensions between the Dangote Group, particularly Dangote Refinery, and the NMDPRA over fuel import licensing and local refining policy.
This resulted in Dangote’s petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the former NMDPRA boss.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
