PRESIDENT Bola Tinubu has emphasized the need for Africa to take full control of its energy resources by establishing transparent and credible pricing benchmarks that truly reflect the continent’s economic realities.
Speaking ahead of the Global Commodity Insights Conference on West African Refined Fuel Markets, set to take place in Abuja this week, Tinubu declared that Africa must stop being a passive recipient of global pricing systems and instead build an integrated, value-driven energy market.
“Africa can no longer remain a price taker for its resources. It’s time to establish credible, transparent benchmarks that reflect our realities and protect our economies,” Tinubu stated in a message shared via his official X (formerly Twitter) handle.
The two-day conference—hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in collaboration with S&P Global Insights—will bring together African energy stakeholders and global industry players to discuss regulation, pricing, and market development.
Highlighting ongoing domestic reforms, Tinubu said Nigeria is driving progress in refining, regulatory policy, data transparency, and regional trade to deepen economic integration.
“We must price what we produce, trade on our terms, and secure value for our economies and future generations,” he added. “This is how we shape our energy future.”
The conference is expected to attract key regulators, traders, and policymakers focused on strengthening energy security, stabilizing markets, and unlocking investment across Africa’s midstream and downstream sectors.