The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to give priority to local refineries, including the Dangote Refinery, in order to curb the country’s dependence on imported petroleum products. Dr. Muda Yusuf, CPPE’s CEO, said the regulator’s policy framework should focus on domestic refining, aligning with the government’s industrialisation agenda and “Nigeria‑First” policy direction.
The CPPE stressed that the authority, led by CEO Saidu Mohammed, must shift its policy away from importation and toward the promotion of local refining. This shift is expected to improve energy security and lessen reliance on foreign refined products. By supporting domestic refineries, the regulator can boost local production and reduce the financial burden of petroleum imports.
In the upstream sector, the CPPE recommended that the Federal Government introduce policies to attract new investments in both on‑shore and off‑shore assets, with the aim of increasing crude oil and gas production. Such measures are seen as essential for raising the country’s energy output and driving economic growth.
The call for support of local refineries comes amid a price war in the downstream sector, which has lowered petrol pump prices in Abuja to between N739 and N910 per litre. This development underscores the need for a sustainable solution to Nigeria’s energy challenges. The CPPE’s proposal seeks to promote energy self‑sufficiency and reduce import reliance.
The Nigerian government’s policy direction in the oil and gas sector is under close scrutiny as the country strives to harness its natural resources for economic growth and development. By prioritising domestic refining and increasing local production, the government can create a more sustainable energy sector, cut costs, and foster economic development. The CPPE’s recommendations are expected to inform policy decisions as Nigeria addresses its energy challenges and aims for a more vibrant economy.
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