NMDPRA: Downstream Deregulation Saves Nigeria Over ₦6 Trillion in Fuel Import Losses in Just 9 Months
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that reforms in the downstream petroleum sector, particularly full deregulation, have delivered over ₦6 trillion in savings for the country within the first nine months of 2025. The Chief Executive of NMDPRA, Saidu Mohammed, disclosed this during the Nigeria International Energy Summit (NIES) 2026 in Abuja. He attributed the massive savings to a combination of bold policy moves under President Bola Tinubu's administration, including: Full deregulation of the downstream sector Harmonisation of the foreign exchange market Increased utilisation and incentivisation of gas Trading of crude oil and petroleum products in naira Mohammed explained that these reforms have drastically reduced Nigeria's historical dependence on imported petroleum products, cutting fiscal and foreign exchange losses previously incurred through imports. “In just nine months of 2025, Nigeria has gained about ₦6 trill...