OTL Africa Downstream Energy Week Commences with Key Focus on Industry Transformation – 11 PLc Boss

……..by Ben Ndubuwa…..

The 18th OTL Africa Downstream Energy Week kicked off in Lagos, bringing together industry leaders, government officials, and key stakeholders to discuss the future of Africa’s downstream energy sector. Adetunji Oyebanji, Chairman of the Advisory Board and the Managing Director of 11 Plc, delivered the opening remarks, emphasizing the event’s role as a crucial platform for collaboration, innovation, and strategic discussions within the industry.

In his address, Oyebanji highlighted two major milestones impacting Nigeria’s downstream landscape. First, the recent full deregulation of the downstream sector, including the shift to a market-based gasoline pricing system, promises to increase competition, transparency, and stability within the market. This regulatory shift is expected to create opportunities for fair value distribution across the energy supply chain.

Tunji Oyebanji Opening Remark:

This year’s event takes place against the backdrop of two major industry milestones. First, the recent full deregulation of Nigeria’s downstream sector, along with the shift to a market-based gasoline pricing system, marks a fundamental change in our market. Deregulation introduces new opportunities for competition, transparency, and efficiency, while market-based pricing sets a pathway for stability and fair value distribution across the supply chain.

Secondly, we are celebrating the commissioning of the long-awaited Dangote Refinery, a project of enormous scale and significance. With a capacity of 650,000 barrels per day, this refinery is not only a testament to Nigeria’s industrial capacity but a transformative development for the entire West African region. Together, these two milestones will shape industry dynamics for years to come, impacting everything from refining operations and distribution to market competition and consumer access.

Today, we have key players from across the midstream and downstream sectors, spanning various industries and specialities. From refiners and marketers to regulators, technology providers, and service partners, your presence here is invaluable, and I encourage each of you to take full advantage of this unique gathering. Whether you’re here to share best practices, explore new partnerships, or showcase cutting-edge technologies, this is a space to drive meaningful change and innovation together.

A special thank you to our generous sponsors, whose support allows us to bring this event to life each year. In particular, I would like to acknowledge Engineer Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). His visionary leadership and commitment to this event have been instrumental to our shared progress. We are deeply grateful for NMDPRA’s ongoing partnership and support.

Our program this year is designed to cover a comprehensive range of topics central to our industry’s future. Highlights include:

1.  Energy Markets: Product Flows and Supply Outlook – We will explore how global and regional trends are reshaping the supply and demand landscape in Africa, giving us critical insight into the market’s trajectory.

2.  Issues in Pricing Policy, Profits, and Market Access – Now that market-based pricing is a reality, this session will address its impact on profitability, market accessibility, and fair pricing practices for consumers and industry players alike.

3.  Refining Operations and Petroleum Value Chain Dynamics – With the addition of the Dangote Refinery, we’re on the brink of an unprecedented refining capacity shift in Nigeria This session will look at how these changes impact the broader petroleum value chain.

4.  New Energy Order: Gas, LPG, CNG, LNG, and Renewables – As we seek sustainability, alternative energy sources are crucial. This session will address the role of gas, either LPG, CNG, and renewables, in building a balanced and resilient energy landscape for Africa.

5.  Issues in Shipping Petroleum and Crude Oil Cargoes – As petroleum shipping faces regulatory and logistical hurdles, this discussion will examine how we can streamline and secure this critical part of our value chain.

6.  Petroleum Margin Management and Bottom-Line Efficiency – This session will provide insights into strategies for enhancing margins and maximizing efficiency in an increasingly competitive market.

7.  Lubricant Market Trends – We will explore trends and innovations in the lubricants sector, crucial for downstream operations and industrial growth.

8.  Downstream in the Age of Artificial Intelligence – AI is transforming the industry, from optimizing supply chains to enhancing customer engagement. This discussion will delve into how AI can drive growth and streamline operations.

These sessions are designed not only to inform but to inspire action. I encourage each of you to actively participate, network, and collaborate as we work toward the sustainable, resilient future that our industry and our continent deserve.

Thank you all for your presence and your commitment to progress. Together, let us make this 18th OTL Africa Downstream Energy Week a landmark event in the journey toward a stronger, more prosperous energy sector in Africa.