Petroleumprice.ng CEO Advocates Digital Intelligence in Oil

At the Owari Executive Market Intelligence Forum 2026 held in Lagos, Jeremiah Olatide, the Chief Executive Officer of Petroleumprice.ng, called on petroleum regulators across West Africa to adopt digital market intelligence platforms. He emphasized that these platforms are essential for improving transparency, price discovery, and access to real-time information in the downstream oil market.

Olatide highlighted the importance of timely and reliable information for traders, noting that misinformation could lead to significant financial consequences. He explained that while domestic petroleum prices are in naira, wholesale transactions are linked to dollar-denominated costs, making accurate market data interpretation crucial.

Olatide stated that platforms like Owari could help clarify the factors affecting petroleum prices, including landing and refining costs. The forum gathered professionals from various sectors involved in petroleum trading, focusing on the increasing need for reliable market information in West Africa.

Joe Leigh, the founder of Owari, mentioned that the platform was created to address the challenges of obtaining reliable information.