The Centre for the Promotion of Private Enterprise (CPPE) has charged the newly appointed leadership of Nigeria’s petroleum regulatory agencies to urgently dismantle the barriers hindering domestic refining and aggressively drive crude oil production to a minimum of two million barrels per day (mbpd).
In a statement released to set the tone for the industry’s direction in 2026, the think-tank commended President Bola Ahmed Tinubu for resetting the regulatory architecture through fresh appointments at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The CPPE, led by its Chief Executive Officer, Dr. Muda Yusuf, described the appointments as a strategic opportunity to entrench energy sovereignty and end the era of import dependence.
The CPPE argued that the new management at the NMDPRA must make the support of domestic refining its immediate and non-negotiable priority.
Dr. Yusuf criticised the current market structure, noting that it forces locally refined products to compete with imports under unequal fiscal and regulatory conditions.
He warned that this distortion undermines the “Nigeria-First” industrialisation agenda.
“Government policy should clearly favour locally refined petroleum products through targeted fiscal, regulatory, and infrastructural support for both public and private refineries,” Yusuf stated. “Genuine competition only exists when all operators function within the same policy, tax, and regulatory environment.”
The Centre emphasised that prioritizing domestic refining is not merely about protecting investors but safeguarding the economy.
According to the CPPE, a strong refining base is the pathway to backward integration, strengthening petrochemical and fertilizer industries, conserving foreign exchange, and creating jobs.
Turning to the upstream sector, the CPPE tasked the new NUPRC leadership with a clear national objective: raising crude oil output to at least two million barrels per day.
Yusuf stressed that with the global energy transition accelerating, Nigeria must maximise the value of its hydrocarbon resources immediately.
He called for policies that attract fresh investments in both onshore and offshore assets to reverse years of stagnation.
“The NUPRC should prioritise production growth, investment facilitation, and improved security through close collaboration with industry stakeholders,” the statement read.
The CPPE also insisted that ensuring compliance with domestic crude supply obligations to local refineries must remain a central focus for the commission.
The CPPE concluded that for the sector to drive sustainable growth and economic resilience, the new regulatory leadership must anchor its agenda on energy security and self-reliance, moving Nigeria decisively away from the vulnerability of fuel importation.