West African regulators have planned to create a new forum to harmonize fuel prices and boost petroleum product trading across the region.
This was a key outcome of the inaugural West African Refined Fuel Market Conference held in Abuja, organized by Nigeria’s NMDPRA Nigeria’s Midstream and Downstream value chain
and S&P Global. The conference focused on developing trading hubs, standardizing pricing and quality, increasing transparency, and promoting investments in downstream infrastructure. A West African Regulators Forum and Technical Working Group will oversee these initiatives, addressing challenges like infrastructure gaps, tariffs, and product standardization. Additional goals include expanding refining capacity, establishing independent price assessments, creating regional trading hubs, and holding annual conferences.
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