In a significant intervention aimed at shaping Nigeria’s energy future, the Centre for the Promotion of Private Enterprise (CPPE) has issued a comprehensive policy agenda for the country’s newly appointed petroleum regulators. The move comes at a critical juncture, as the nation grapples with fuel import dependency, production shortfalls, and the pressures of a global energy transition.
By Rukayat Moisemhe
Lagos, Dec. 25, 2025 (NAN) – Dr. Muda Yusuf, founder of the CPPE, has laid out a detailed roadmap intended to guide the new leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a statement issued in Lagos, Yusuf framed their appointments by President Bola Tinubu as a pivotal “reset” of the nation’s regulatory architecture.
“This reset offers a strategic, perhaps final, opportunity to align national regulation with the urgent commitments to energy sovereignty, security, and self-reliance,” Yusuf stated. He emphasized that the core mandate must be to catalyze accelerated production growth and industrialisation, moving beyond mere oversight to active facilitation of investment.
The Downstream Imperative: Ending the Paradox of Import Dependency
Yusuf identified the downstream sector—encompassing refining, distribution, and marketing—as requiring immediate and non-negotiable intervention. He argued that government policy must “clearly and unequivocally favour locally refined petroleum products” through a triad of targeted fiscal incentives, regulatory clarity, and direct infrastructural support.
He highlighted a critical market distortion that has long stifled domestic investment: the unfair competition between imported refined products and those refined within Nigeria. “Imports often benefit from economies of scale, different subsidy regimes (historically), and sometimes laxer quality enforcement, creating an unlevel playing field,” Yusuf explained. “Genuine competition can only exist when all operators, whether domestic refiners or importers, function under identical policy, tax, and regulatory environments.”
The CPPE founder urged the NMDPRA to enshrine a “Nigeria-First” principle at the heart of its regulatory framework. This, he clarified, is not about protectionism for its own sake but about safeguarding the nation’s long-term economic interests—including job creation, technological skill acquisition, and foreign exchange conservation—which ultimately benefit more than just refinery investors.
The Upstream Challenge: Maximizing Value in an Era of Transition
Turning to the upstream sector, governed by the NUPRC, Yusuf pointed to Nigeria’s chronically underperforming crude oil and gas production levels. “The global energy transition is accelerating, and capital is becoming increasingly selective,” he noted. “Nigeria must maximize the value of its hydrocarbon resources while the window of opportunity remains open. This requires urgently ramping up production to attract fresh investments, both onshore and in deepwater territories.”
He set a clear benchmark for the NUPRC: to drive crude oil production back to a minimum of two million barrels per day. Achieving this, he implied, would require the commission to proactively address the twin crises of insecurity and massive oil theft in the Niger Delta, streamline the contracting and approval processes, and provide stable, predictable regulations that align with the Petroleum Industry Act (PIA).
The Integrated Vision: A Coherent Value Chain Strategy
The CPPE’s agenda implicitly calls for unprecedented coordination between the NMDPRA and NUPRC. A successful upstream revival (more crude production) must be met with a parallel downstream renaissance (increased domestic refining capacity) to capture the full value of each barrel. This integrated approach is vital for converting natural resource wealth into sustainable industrial growth, moving Nigeria from a crude exporter to a refined product supplier for the region.
As the new regulators assume their roles, the CPPE’s framework presents a high-stakes to-do list. Their success or failure in implementing these imperatives will directly impact Nigeria’s economic stability, its balance of payments, and its strategic positioning in a rapidly evolving global energy landscape. (NAN) (www.nannews.ng)
ARM/KTO
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Edited by Kamal Tayo Oropo
