12/08/2026
HON. OKOJIE ADVOCATES STRONGER INFRASTRUCTURE FINANCING, TRANSPARENT FUEL PRICING AT WEST AFRICAN REFINED FUEL MARKET CONFERENCE.
ABUJA — The Honourable Member representing Esan North-East/Esan South-East Federal Constituency of Edo State, Hon. Prince Henry Odianosen Okojie, has called for increased investment in West Africa's petroleum infrastructure and the establishment of transparent, credible and sustainable regional price benchmarks for refined petroleum products.
Hon. Okojie made the call as a guest at the Second Edition of the West African Refined Fuel Market Conference 2026, held at the Transcorp Hilton Hotel, Abuja, with the theme - “Funding West Africa Infrastructure and Distribution to Create a Transparent Market for Regional Price Benchmarks.”
The conference brought together key stakeholders across the petroleum and energy sector, including regulators, policymakers, industry executives, investors and other participants in the regional refined-fuel market.
Speaking at the event, Hon. Okojie stressed that adequate infrastructure remains fundamental to the development of an efficient, competitive and integrated petroleum market across West Africa.
According to him, investment must be directed towards critical midstream infrastructure, including refineries, storage facilities, pipelines, transportation networks and other distribution systems required to move petroleum products efficiently across the region.
“We cannot build a transparent and competitive regional petroleum market without first building the infrastructure that supports it. Infrastructure financing must therefore remain a priority if West Africa is to achieve energy security, economic growth and a truly integrated refined-fuel market”, the Lawmaker stated.
The lawmaker further emphasised the importance of reliable market data and transparent price discovery, noting that credible regional benchmarks would provide greater certainty for investors, refiners, marketers, financial institutions and consumers.
He noted that a transparent pricing mechanism would help reduce market distortions, improve investment decisions and strengthen confidence in the West African petroleum market.
He, however, noted that Nigeria must complement increased refining capacity with investments in transportation, storage, pipelines and other infrastructure necessary to facilitate efficient distribution.
The lawmaker called for deeper cooperation among West African countries and petroleum regulators to facilitate legitimate cross-border trade, harmonise standards where appropriate and strengthen regional energy security.
He said greater regulatory coordination would help create a more predictable investment environment and support the emergence of a truly integrated regional petroleum market.
As Chairman of the House Committee on Petroleum Resources (Midstream), Hon. Okojie reaffirmed the commitment of the National Assembly to supporting policies and legislative measures that encourage investment in critical petroleum infrastructure while promoting accountability, transparency and value for money.
He stressed that effective oversight remains essential to ensuring that infrastructure investments deliver measurable benefits to Nigerians and the wider West African market.
Okonofua Harry Osemobor,
Media Aide to Hon. Henry Odianosen Okojie,
MHR, Esan North East/Esan South East Federal Constituency, Edo State.
Chairman, House Committee on Petroleum Resources (Midstream)
