The Federal Government has been urged to review the policies concerning importation of refined petroleum products into the country.
OVH Energy Marketing Limited was one of the key sponsors of the summit which featured panel discussions and highlighted frameworks that will drive efficiency and healthy competition in the refining sector.
During the NIPS, stakeholders also evaluated current institutional construct and policies in Nigeria and trends regarding the use of conventional and modular refineries.
Stokman noted that attempts have been made to regulate the industry in a bid to ensure sustainability and innovative growth.
The OVH Energy boss said, “There is an urgent need to develop Nigeria’s capacity to refine crude oil locally. This will bring about the great financial and socio-economic impact not just on the petroleum industry, but also on other sectors of the economy.”