Bold economic moves and deregulation are reshaping Nigeria’s fuel sector.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says full downstream deregulation and forex reforms have saved Nigeria over ₦6 trillion in fuel import losses in the first nine months of 2025.
Speaking at the Nigeria International Energy Summit (NIES) 2026 in Abuja, NMDPRA CEO Saidu Mohammed credited the savings to President Bola Tinubu’s bold economic reforms, which have stabilized supply, attracted investment, and strengthened market confidence.
Expanded domestic refining capacity, led by the Dangote Refinery (650,000 barrels/day).
Increased private-sector participation and alternative gas-based fuels.
Implementation of the Petroleum Industry Act (PIA) 2021, creating a fully liberalized market.
He said ongoing and future refinery projects could push Nigeria’s installed refining capacity to over 1 million barrels per day, cementing the country’s role as a regional energy hub.
“The sector is witnessing early but irreversible transformation,” Mohammed added, praising sustained regulatory oversight and investment.
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