President Tinubu says Africa must reclaim its energy value chain through credible benchmarks and stronger regional cooperation

President Bola Tinubu has called on African nations to reclaim control over their energy value chain.

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Speaking ahead of the Global Commodity Insights Conference on West African Refined Fuel Markets, Tinubu urged African countries to establish credible pricing benchmarks that reflect the continent’s realities.

The President made this known in a statement shared via his official X account on Tuesday.

He said that Nigeria is committed to collaborating with regional partners to build an integrated energy market that creates long-term value for Africa.

“Africa can no longer remain a price taker for its resources. It is time to establish credible, transparent benchmarks that reflect our realities and protect our economies,” Tinubu stated.

The upcoming conference, hosted in Abuja, will see energy leaders from across Africa converge to discuss key issues in regulation, pricing and investment.

Organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in partnership with S&P Global Insights, the event seeks to reshape Africa’s role in global energy markets.

According to Tinubu, Nigeria is already advancing reforms in refining, regulatory frameworks, data transparency and regional trade flows.

These efforts are aimed at strengthening cooperation across West Africa and ensuring economic integration through energy.

He explained that building a regional energy framework rooted in transparency and collaboration is essential.

“We must price what we produce, trade on our terms and secure value for our economies and future generations. This is how we shape our energy future,” the President said.

Over the two-day event, stakeholders in the oil and gas sector are expected to explore ways of improving market stability and energy security.

Discussions will also focus on attracting sustainable investment into Africa’s downstream and midstream segments.

Energy analysts say the Abuja conference marks a critical step toward redefining Africa’s economic independence.

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By establishing its own benchmarks, Africa can reduce external dependencies and reinforce self-determination in the global energy economy.