Dare Babalola
The Centre for the Promotion of Private Enterprise (CPPE) has welcomed President Bola Ahmed Tinubu’s appointment of new CEOs for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), describing it as a strategic move to reposition Nigeria’s oil and gas sector.
In a statement signed by Dr. Muda Yusuf, CPPE CEO on Thursday, he emphasised the need for the new leadership to focus on reducing import dependence, expanding domestic capacity, and attracting investments across the oil and gas value chain.
“Domestic refining must be the downstream priority,” Dr. Yusuf stressed, calling on the NMDPRA to create a level playing field for local refineries to compete with imported petroleum products.
He advocated for targeted fiscal, regulatory, and infrastructural support for public and private refineries, as well as new investments in refining capacity.
“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,” Dr. Yusuf said, adding that this is “not merely to protect investors, but to safeguard Nigeria’s long-term economic interests”.
He highlighted the importance of a strong domestic refining base for job creation, foreign exchange conservation, macroeconomic stability, and export-oriented refining capacity.
“A strong domestic refining base is fundamental to building a resilient, energy-secure and sovereign economy,” he emphasized.
On upstream production, Dr. Yusuf urged the NUPRC to prioritize policies that attract investments and raise crude oil output to 2 million barrels per day.
“Nigeria must urgently ramp up crude oil and gas production by implementing policies that attract fresh investments across onshore and offshore assets,” he said.
The CPPE boss stressed that ensuring compliance with domestic crude supply obligations to local refineries should be a priority, adding that these strategic imperatives are crucial for driving sustainable growth, industrialization, and long-term economic resilience.
The statement concluded that the new petroleum regulatory leadership should focus on driving energy sovereignty, self-reliance, and accelerated production growth to effectively transform Nigeria’s oil and gas sector.
