The House of Representatives has reaffirmed its commitment to comprehensive energy sector reform, calling on the Federal Government and relevant stakeholders to restructure the downstream petroleum industry for greater efficiency and sustainability.

Speaking this morning, at the First Annual Downstream Petroleum Week in Abuja, organized by the House Committee on Petroleum (Downstream), Speaker Tajudeen Abbas said the energy sector remains central to Nigeria’s economic growth and must be repositioned to drive industrialization.

The conference, held in collaboration with the Federal Ministry of Petroleum Resources and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), brought together industry players, regulators, and representatives from the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Group.

Despite spending over $18 billion on the turnaround maintenance of the Port Harcourt, Kaduna, and Warri refineries, Abbas lamented that Nigeria still depends heavily on imported petroleum products, a situation now being addressed through the establishment of the Dangote Refinery.

A few months earlier, NNPCL Group CEO, Bayo Ojulari, had hinted at plans to sell the ageing refineries due to their inefficiency, though he later withdrew the statement following criticism from the House Committee on Petroleum Resources (Midstream) chaired by Hon. Odianosen Okojie.

Declaring the event open, Abbas described the conference as a milestone in Nigeria’s pursuit of energy sufficiency and sustainability.

“Nigeria is at a critical point in its drive for industrialization. This conference could not have come at a better time,” the Speaker said. “Our duty as legislators is to provide policies and oversight that will strengthen the downstream sector for a more secure, efficient, and resilient economy.”

He emphasised that the success of the downstream sector depends on improved infrastructure, policy stability, and increased local investment particularly in Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) facilities.

Abbas further urged stakeholders to propose practical solutions to address energy security challenges, pipeline vandalism, price instability, and to ensure the full implementation of the Petroleum Industry Act (PIA) 2021.