Business
Umar Pledges Strong Energy Security Amid NMDPRA Reforms
NMDPRA energy security reforms Umar pledge sees the agency chief commit to stronger fuel supply stability, regulatory efficiency, and national energy security
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Umar, has pledged sweeping reforms aimed at strengthening energy security and ensuring stable fuel supply across Nigeria.
Also read: Dangote Highlights Excessive Spending by NMDPRA Chief, Calls for Probe
NMDPRA energy security reforms Umar pledge followed his screening on May 5, 2026, during which lawmakers commended his industry expertise, professionalism, and strategic vision for the petroleum sector.
Nominated by President Bola Ahmed Tinubu on April 29, 2026, Umar is tasked with reinforcing regulatory effectiveness and accelerating reforms under the Petroleum Industry Act.
During his appearance before lawmakers, he outlined a reform agenda focused on supply stability, regulatory efficiency, investor confidence, and nationwide product availability.
He stressed that global disruptions, including geopolitical tensions affecting major shipping routes, would continue to influence fuel prices but should not destabilise Nigeria’s domestic supply system.
“Global events may affect prices, but they should not define Nigeria’s stability. Our task is to build a petroleum system strong enough to absorb shocks,” Umar said.
He explained that his administration would prioritise strengthening Nigeria’s 22 depots, maintaining adequate stock buffers, and improving coordination across relevant agencies to ensure consistent fuel availability nationwide.
Umar emphasised that true energy security is measured by accessibility rather than storage volumes alone.
“Energy security is not measured only by volumes in storage. It is measured by whether fuel is available when Nigerians need it,” he stated.
With over two decades of experience in the petroleum and industrial sectors, Umar has held senior roles in major organisations including Oando Plc, Ashaka Cement Plc, and the Dangote Group, where he served as Group Chief Commercial Officer until recently.
His nomination has already received backing from key industry stakeholders, including petroleum marketers and retail operators, who described his appointment as timely and well-suited to address sector challenges.
Umar also promised to reposition the NMDPRA as a more efficient and investment-friendly regulator by eliminating bureaucratic delays and improving service delivery.
“The NMDPRA under my leadership will be firm in regulation, fair in conduct, and fast in execution,” he said.
Also read: Nigeria LPG Supply Falls Amid Rising Prices and Middle East Crisis
Industry observers say his reform agenda signals a potential shift toward stronger regulatory credibility, improved supply-chain efficiency, and increased private sector participation in Nigeria’s downstream petroleum industry.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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