Calabar Energy Summit: UBA, NMDPRA call for bankable infrastructure, regional investment
Group Managing Director of United Bank for Africa (UBA), Oliver Alawuba, and the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Saidu Mohammed has jointly asserted that Nigeria’s path to energy security lies in transitioning from policy concepts to bankable, physical infrastructure.
Speaking iin Calabar at the Energy Cross River Conference and Exhibition, the UBA GMD, Oliver Alawuba, delivered a keynote address highlighting that Nigeria’s primary energy challenge is not a shortage of ideas, but rather a lack of bankability.
He argued that for the nation to bridge its infrastructure gap, projects must be structured with the financial discipline required to attract commercial and institutional investors.
Alawuba stressed that progress is only possible when governments, developers, and banks align around clear roles and measurable outcomes.
He noted that UBA remains at the center of the movement to transition energy reforms from mere conversations into actual construction, reinforcing the bank's role as a primary partner in financing the continent's sustainable development.
Complementing the call for financial readiness, the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Saidu Mohammed, represented by the Executive Director of Hydrocarbon Processing, Engr. Francis Ogaree, delivered a keynote focused on the industry's evolution.
In an address titled "Downstream Petroleum Industry in Nigeria - Past Perspectives and Present Opportunities," Engr. Ogaree reflected on the nation's transition away from a period of sustained energy crises characterized by an over-reliance on imported refined products and inefficient distribution networks.
He highlighted the current shift toward domestic refining optimization as a critical step in safeguarding national energy security and reducing the fiscal drain on government resources.
The NMDPRA emphasized its commitment to providing a predictable regulatory environment designed to catalyze growth and strengthen the job market for Nigeria's youth.
Engr. Ogaree specifically encouraged Cross River State to capitalize on its unique geographical advantages by investing in Expanding terminals to streamline regional supply and developing LPG and CNG facilities for industrial and transportation use.
He also called for the establishment of export-oriented value chains by leveraging the state’s free port status and the proposed deep-sea port infrastructure.