The Centre for the Promotion of Private Enterprise (CPPE) has explained why the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should deliberately favor Dangote Refinery and other local refineries.
CPPE’s Chief Executive Officer, Dr. Muda Yusuf, in a statement on Thursday, said that Nigeria’s downstream oil sector regulator must support local refineries to reduce the country’s heavy dependence on imported refined petroleum products.
The economic think tank stressed that the NMDPRA, under the leadership of CEO Saidu Mohammed, should refocus its policy direction away from the importation of petroleum products into the country.
“The NMDPRA must therefore place domestic refining at the center of its policy framework, in line with the President’s Nigeria-First policy direction and industrialization agenda,” CPPE said.
On the upstream sector, CPPE urged the Federal Government to boost crude oil and gas production by introducing policies that attract fresh investments in both onshore and offshore assets.
DAILY POST reports that the ongoing downstream price war has led to petrol pump prices falling to between N739 and N910 per liter in Abuja.
