WEST AFRICAN COUNTRIES URGED TO INVEST IN OIL AND GAS INFRASTRUCTURE
By: Safiya Abdulrahim Dabban
The West Africa Regulatory Forum (WARF) has urged countries in the region to jointly invest in infrastructure and improve operations in the oil and gas sector to establish credible regional price benchmarks.
WARF Chairman and Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, made the call in Abuja at the 2026 West Africa Refined Fuel Market Conference.
The conference focused on developing a more efficient regional petroleum market by improving infrastructure, reducing energy transportation costs, strengthening supply security and supporting transparent fuel pricing.
Speakers stressed the need for stronger refining capacity, efficient logistics and harmonised regulations to boost cross-border petroleum trade. They said reliable movement of products from refineries to storage facilities, terminals and demand centres is essential for a functional regional market.
Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, said a credible regional price benchmark must be based on actual transactions, reliable market data, sufficient liquidity and strong institutions.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, also called for a stronger West African petroleum market capable of attracting global investment across the industry.
Participants agreed that the region must move beyond being a price-taker and develop into a major centre for petroleum price discovery, trading, investment and value creation.