The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has disclosed that 69% of West Africa’s petrol supply is still imported.
Speaking at the Global Commodity Insights Conference on West Africa’s refined fuel market held in Abuja on Tuesday, Ahmed revealed that nearly 69 percent of gasoline consumed in the region is still sourced from overseas, highlighting continued reliance on external supply chains.
Ahmed stated, “Our 2025 statistical data for West Africa’s petrol supply reveals that 2.05 million MT per month of gasoline is being traded, consisting of 1.44 million MT (69 percent) imports and 0.61 million MT (31 percent) refinery contribution from the region.”
The conference, jointly organised by the NMDPRA and S&P Global Commodity Insights, provided a platform to address critical issues affecting the regional fuel market.
Ahmed noted that West Africa’s growing refining capacity, currently standing at 1.335 million barrels per day from countries including Nigeria, Ghana, Niger, Senegal, and Côte d’Ivoire, has yet to significantly reduce the region’s dependence on imports.
“The regional supply of fuels in West Africa has grown through improved refining capacities in Nigeria, Ghana, Niger, Senegal and Côte d’Ivoire,” he said. “However, despite these gains, we remain overly reliant on external sources.”
He also criticised the continued use of foreign pricing benchmarks by the region, citing their inadequacy in reflecting local realities.
“These global benchmarks do not fully reflect the unique supply chain peculiarities, logistics costs, and economic realities of the African continent,” he noted.
According to him, the lack of a regional pricing benchmark has stifled investment and hampered transparency and efficiency in the supply chain.
“As a region, we must begin to define our own pricing reality. Establishing a regional price index will not only improve price discovery and transparency but also deepen market development and enhance energy security,” he stressed.
Ahmed praised Nigeria’s reform efforts under President Bola Tinubu’s administration, especially the implementation of the Petroleum Industry Act (PIA) 2021 and downstream sector liberalisation, which he said have improved the investment climate.
“These reforms are attracting investment into trade zones, digital market platforms, and refining projects,” he added. “Nigeria is fast emerging as a key midstream and downstream trade and logistics centre for the entire West African coast.”
He pointed to the country’s improved maritime infrastructure, deep seaports, and active coastline as critical assets positioning Nigeria as a potential fuel distribution hub across the region.
“Nigeria’s refining sector is undergoing massive transformation, with projects like the Dangote Refinery and ongoing rehabilitation of state-owned refineries expected to boost local production significantly,” he said.
Citing the OPEC World Oil Outlook, Ahmed said Africa is projected to add 1.2 million barrels per day of refining capacity between 2025 and 2030, with West Africa expected to contribute significantly.
To support the growth of the regional market, Ahmed announced that the NMDPRA is collaborating with S&P Global Commodity Insights to develop price indices for refined petroleum products such as Premium Motor Spirit (PMS), Automotive Gasoil, Aviation Turbine Kerosene, and Liquefied Petroleum Gas (LPG).
“Our partnership with S&P Global aims to leverage their world-class market intelligence and our regulatory experience to launch pilot indices tailored to the West African energy market,” he explained.
He said the proposed benchmark would improve real-time price visibility across the value chain, enhance investor confidence, and encourage more investment in storage and supply infrastructure.
“We are committed to building a transparent, data-driven market that reflects the true cost and value of fuel within West Africa,” he concluded.
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