President Bola Ahmed Tinubu has called on African nations to take control of the pricing and trade of their natural resources, stating that the continent must no longer remain a “price taker.”
The president made this declaration in a statement posted via his verified X (formerly Twitter) account on Tuesday.
The remarks come as Nigeria prepares to host the Global Commodity Insights Conference on West African Refined Fuel Markets in Abuja.
The event is organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in partnership with S&P Global Insights, drawing participants from across the continent and the international energy community.
He emphasized the need for the continent to create an integrated market that is defined by collaboration, transparency, and regulatory alignment.
According to him, this effort will ensure that African countries not only refine and regulate their energy resources effectively but also gain appropriate value through fair trade.
The president described the conference as a strategic platform for creating a transparent, Africa-led reference market for energy commodities. He said this move is essential to economic self-determination and long-term growth for the continent.
The conference is expected to address challenges in regional fuel supply, transparency in commodity pricing, and the integration of African energy markets.
