The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that the country needs between $30 billion and $50 billion in investments to establish itself as a major hub in the midstream oil and gas sector.
This indication was given by the Authority Chief Executive, Alhaji Saidu Mohammed during a facility tour of the Indorama Petrochemical and Fertilizer Complex in Eleme, Port Harcourt, Rivers State.
Alhaji Saidu expressed optimism that Nigeria would soon join the league of urea-exporting countries, thanks to ongoing expansions in the petrochemical and fertilizer industry.
The visit to Indorama forms part of a three-day operational tour by the NMDPRA team to selected midstream and downstream facilities across Rivers State.
The objectives include: Assessing the operational status and availability of critical infrastructure in the midstream and downstream sectors.
Obtaining first-hand information on key facilities.
Reviewing and enhancing strategic alignment between the regulator and its licensees.
Engaging with major investors in the sector.
Alhaji Saidu Mohammed was optimistic that increased investments in gas processing and derivatives would eliminate the nation’s reliance on imports and strengthen its industrial base.
He commended Indorama’s growth to date and urged Nigeria to position itself as a hub not only for primary but also for secondary derivatives in the oil and gas value chain.
The Chief Executive Officer of Indorama Petrochemical and Fertilizer Limited expressed satisfaction that the company had successfully delivered on its objectives and commitments.
The NMDPRA team’s tour continues with visits to other oil and gas facilities across Rivers State.
This reflects NMDPRA’s ongoing efforts to drive regulatory excellence, boost investor confidence, and unlock the full potential of Nigeria’s midstream and downstream petroleum sectors.
