Nigeria, March 10 -- Can Nigeria become a competitive producer and supplier of petroleum products for both domestic and international markets? This question has become increasingly urgent as the country grapples with persistent pricing uncertainties and structural flaws in its energy sector. For Nigeria to harness its full potential in the global hydrocarbon industry, policymakers and energy experts must address the misalignment that continues to undermine its growth and stability.

A major challenge lies in Nigeria's upstream hydrocarbon exploration and production sector, where investment has been inconsistent and poorly managed. The limited funds that have flowed into the sector have often been mismanaged by the state-owned Nigerian Nat...