Mkpoikana Udoma
Port Harcourt — Nigeria’s downstream petroleum industry is undergoing a structural reset driven by regulatory reforms, domestic refining optimisation and sustainable finance frameworks designed to unlock long-term value, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has said.
Delivering the keynote address at the Energy Cross River Conference & Exhibition 2026 in Calabar, the NMDPRA Chief Executive, Engr. Saidu Mohammed, represented by the Executive Director, Hydrocarbon Processing, Plant Installation and Transportation Infrastructure, Engr. Francis Ogaree, declared that the sector has moved decisively from crisis management to capacity expansion.
Speaking on the theme, “Downstream Petroleum Industry in Nigeria: Past Perspectives and Present Opportunities,” Ogaree said Nigeria is emerging from years of structural inefficiencies that once weighed heavily on public finances.
“We are coming from a period of sustained energy crisis in the downstream sector, characterised by over-reliance on imported refined products, inefficient distribution networks and infrastructure gaps that posed a fiscal drain on government resources,” he said.
According to him, recent reforms and market-driven adjustments are reshaping the energy landscape, with a strong push toward domestic product sufficiency and energy security.
“Our present and evolving energy landscape is defined by an aggressive optimisation of domestic refining capacity to meet national demand and safeguard energy security,” Ogaree stated. “This is not just a supply shift; it is a structural transformation.”
He emphasised that the NMDPRA remains committed to providing a predictable and transparent regulatory framework capable of unlocking private capital.
“The Authority is focused on ensuring a stable and predictable regulatory environment that enables businesses, catalyses growth and strengthens the job market for our teeming youth,” he said.
Participants at the conference noted that regulatory clarity remains central to attracting long-term financing into refining, gas infrastructure and logistics networks across the South-South.
Cross River Positioned for Midstream Upside
Ogaree urged Cross River State to leverage its strategic advantages, including its free trade zone and planned deep seaport infrastructure, to attract investments in midstream and downstream value chains.
“Cross River is uniquely positioned to capitalise on the ongoing midstream and downstream momentum,” he said. “Strategic investments in fuel distribution terminals, LPG and CNG infrastructure for transportation and industrial use, and clean energy hubs can transform the state into a regional energy gateway.”
He added that export-oriented value chains anchored on port infrastructure could significantly boost regional competitiveness and foreign exchange earnings.
A key theme of the address was the growing role of sustainable finance in mobilising capital for energy infrastructure.
Ogaree noted that aligning projects with global sustainability frameworks enhances investor confidence and ensures durable economic returns.
“Sustainable finance is not just a global buzzword; it is a tool for unlocking enduring value for Cross River and the wider South-South region,” he said.
