Diversify Transportation of Petroleum Products Now, Adebawo challenges Operators
He asserted that “currently, 98% of refined petroleum products in the country are transported by road, which contributes to high costs per unit volume and raises significant safety concerns.”
Adebawo made these remarks while moderating a panel session at the Nigeria Annual International Conference and Exhibition (NAICE) organized by the Society of Petroleum Engineers (Nigeria Council) on August 6, 2024, in Lagos. The session, titled “Unlocking Upstream Value: Developing Markets, Trade Access, and Facilitating Partnerships in the Midstream and Downstream,” brought together key industry professionals to discuss the future of Nigeria’s oil and gas sector.
The panel included experts such as Engineer Oluseyi Afolabi, CEO of Reservoir & Facilities Solutions Ltd; Babafemi Onasanya, General Manager of Subsurface at Oando Energy Resources; Dr. Goodluck Enimakpokpo, Major Strategic Accounts, Nigeria & Anglophone WA at GE Venoa; Gbite Falade, MD/CEO of Aradel Holdings; and Ogbugo Kalu Ukoha, Executive Director of Distribution Systems, Storage, and Retailing Infrastructure at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
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The discussion focused on the critical role of regulatory frameworks in enhancing market access within the oil and gas value chain. The panelists analyzed how effective policies can streamline trade, incentivize partnerships, and foster a conducive environment for market growth. They also explored the importance of regulatory frameworks in enabling efficient trade practices and strategic partnerships, which are essential for sustainable development across the oil and gas sector.
In his closing remarks, Adebawo emphasized the need for the industry to explore alternative transportation methods to reduce dependency on road transport. This, he argued, would not only lower costs but also improve safety and efficiency in the distribution of petroleum products across Nigeria.
