During a facility inspection at Aradel Holdings Plc in Ogbele community, Rivers State, NMDPRA’s Chief Executive, Saidu Mohammed, emphasized that market forces—enabled by the removal of fuel subsidies—are now driving efficiency and price stability. He cited petrol’s price drop from roughly ₦1,000 to ₦800 per litre as evidence of competitive pressures benefiting consumers.
Mohammed stressed that Nigeria’s energy future hinges on expanding local refining capacity to meet domestic demand before pursuing exports to Africa, Europe, and the Americas. He highlighted the need for advanced refineries to produce diesel, naphtha, and other petroleum products, noting that reliance on a single refinery (like Dangote) is insufficient for global and continental needs.
The NMDPRA chief praised President Bola Tinubu’s subsidy removal policy, calling it a catalyst for private sector investment across the oil and gas value chain. He also addressed the stalled state-owned refineries, clarifying that the Nigerian National Petroleum Company Limited (NNPCL) holds primary responsibility for their operations. However, NMDPRA is collaborating with NNPCL to restore crude delivery and product loading at Port Harcourt and Warri refineries, which would boost local economies even before full operations resume.
Mohammed singled out Aradel Holdings as a model for indigenous capacity, citing its 11,000-barrel-per-day refinery, 13-year gas supply partnership with NLNG, and virtual gas pipeline network. Aradel’s planned expansion aims to enable petrol loading by 2027.
Aradel’s Managing Director, Adegbite Falade, reaffirmed the company’s commitment to scaling refining output, commercializing gas, and ending routine flaring. He pledged to address Nigeria’s energy gaps through local value addition and prioritized domestic supply.
NMDPRA pledged continued regulatory incentives to attract midstream investments, describing the sector as pivotal to economic growth, power generation, and manufacturing.
