Nigeria Urges Oil and Gas Investment at 2nd West African Market Conference

1 articles · Updated · The Whistler Newspaper · Aug 11

Abuja officials said oil and gas will remain dominant in the global energy mix for the foreseeable future, arguing the energy transition should not deter capital from Nigeria’s petroleum sector.
Nigeria’s government used the 2nd West African Refined Oil Market Conference to press for more investment in crude production, refining and other midstream and downstream projects, saying the country can no longer export crude without adding value.
Regulators said rising domestic refining capacity is pushing Nigeria beyond meeting local demand toward exporting refined products, while crude output has climbed enough to exceed its OPEC benchmark.
The push is tied to a broader plan for an integrated West African petroleum market, with officials and the central bank calling for harmonised rules, transparent pricing, cross-border trade infrastructure and financing to mobilise long-term capital.