Energy stakeholders across West Africa are calling for a regional pricing benchmark for petroleum products. Speaking at a key industry meeting in Abuja, players said current global pricing models ignore the continent’s unique logistics and supply challenges.

They argued that importing international price benchmarks puts local economies at a disadvantage, often resulting in higher consumer prices and less investor confidence in local refining and distribution networks.

A regional pricing mechanism, they said, would ensure fairer market conditions and help attract investment in infrastructure and refining capacity.

The meeting ended with a call for ECOWAS and national governments to work together on a roadmap for implementing region-specific fuel pricing frameworks.