Nigerian Energy Regulator Praises Indigenous Firms, Calls for Billions in Investments

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has commended the performance of local energy companies in the midstream oil and gas sector. During a tour in Port Harcourt, the NMDPRA CEO, Saidu Moham, highlighted the importance of investments in the sector to boost industrialization and meet the nation's energy needs.

Moham emphasized the necessity for private sector investments, estimating a requirement of $30 billion to $50 billion for the midstream sector alone. He also mentioned the significance of refining capacity, pointing out the ongoing development of the Dangote Refinery.

Moham stressed the need for regulatory frameworks to attract investments and ensure a stable supply of gas products at competitive prices. The goal is to enhance the sector's efficiency, reduce subsidies, and achieve a sustainable energy market in Nigeria and beyond.