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Fuel Marketers Reject Petrol Price Controls, Threaten Nationwide Shutdown

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Deregulation or Exploitation? FG Warns Fuel Marketers on Excessive Petrol Pricing
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri

Fuel Marketers Reject Petrol Price Controls, Threaten Nationwide Shutdown 

Fuel marketers have warned that filling stations across Nigeria could shut down if the Federal Government attempts to enforce price controls on Premium Motor Spirit (PMS), popularly known as petrol, saying such a move would undermine the country’s deregulated downstream petroleum sector.

The warning follows recent comments by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who said the government would not tolerate profiteering or practices that exploit consumers, even though petrol pricing has been deregulated under the Petroleum Industry Act (PIA).

Speaking at the 2026 General Counsel and Legal Advisers Forum organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja, the minister stressed that while market forces should determine fuel prices, regulators still have a legal responsibility to protect Nigerians from unfair pricing and anti-consumer practices.

Lokpobiri explained that deregulation does not mean the government has relinquished its oversight role, noting that the PIA empowers institutions such as the NMDPRA to ensure product availability, market stability and consumer protection.

His remarks came amid growing public concern over the slow decline in petrol prices despite a significant drop in global crude oil prices. International crude prices recently fell from about $120 per barrel during the Middle East conflict to around $72 per barrel, prompting calls for corresponding reductions in domestic fuel prices.

Earlier, the Federal Competition and Consumer Protection Commission (FCCPC) also raised concerns over what it described as possible consumer exploitation in the downstream petroleum sector, questioning why pump prices had not fallen substantially despite lower crude oil prices.

Reacting to the government’s position, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, rejected suggestions that marketers were profiteering, insisting that many operators are instead battling mounting financial losses.

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According to him, frequent price reductions by the Dangote Refinery have forced marketers who purchased fuel at higher prices to sell at slimmer margins—or even at a loss—in order to remain competitive.

“Marketers will shut down if they try somehow to enforce price control. We are going to shut down our stations nationwide. You can’t be regulating a deregulated market. You can’t tell me how much to sell my product without trying to know how much I bought it,” Ukadike said.

He explained that many independent marketers rely on bank loans to finance fuel purchases, making sudden price adjustments particularly challenging because loan obligations remain unchanged regardless of market fluctuations.

Ukadike argued that rather than introducing price controls, the Federal Government should address the underlying causes of high fuel prices by encouraging greater competition within the downstream sector.

He urged authorities to accelerate the rehabilitation of government-owned refineries, support the operations of private refineries and facilitate increased fuel imports where necessary to create a more competitive market capable of naturally lowering pump prices.

“The primary cause of this is that there is no competition. If there should be competition, the refineries will be working. The PIA must be followed to the letter. If they try to enforce price control, we will shut down,” he added.

Offering a more conciliatory approach, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said the minister has the legal authority to intervene in consumer protection matters but advised that any action should follow broad consultations with industry stakeholders.

He called on the Minister of Petroleum Resources to convene an urgent meeting involving marketers, refiners, regulators and other stakeholders to examine the issues surrounding fuel pricing and agree on measures that would protect consumers without undermining investor confidence in the deregulated market.

Meanwhile, the spokesman for the NMDPRA, George Ene-Ita, said he had not been briefed on any proposed regulatory action concerning petrol pricing and therefore could not comment on the authority’s next steps.

Petrol currently sells for between ₦1,140 and ₦1,210 per litre, depending on location, reflecting regional differences in transportation costs, supply chains and competition among marketers.

The latest disagreement highlights the delicate balance between protecting consumers from unfair pricing and preserving the principles of deregulation introduced under the Petroleum Industry Act. While the government insists it will act against profiteering, marketers argue that sustained competition—not price controls—is the most effective way to deliver lower fuel prices to Nigerians.

Fuel Marketers Reject Petrol Price Controls, Threaten Nationwide Shutdown

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FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35

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FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35
Minister of Youth Development, Ayodele Olawande

FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35

The Federal Government has commenced nationwide registration of Nigerians aged 15 to 35 under the National Youth Data Bank (NYDB), a new initiative designed to build a reliable database of young people and support access to jobs, skills training, internships, entrepreneurship and other opportunities.

Minister of Youth Development, Ayodele Olawande, announced the commencement of the exercise as the government launched the National Youth Data Bank, saying accurate youth data would help improve the planning, targeting and delivery of government programmes.

The NYDB is designed to capture information on young Nigerians, including their education, skills, employment, entrepreneurship and other demographic characteristics. The official platform says the database is intended to provide a centralised and continuously updated picture of Nigeria’s youth population.

The government said the initiative is not an electoral registration exercise but a youth development programme aimed at improving how government identifies young people and connects them with relevant opportunities.

The registration covers young Nigerians in different sectors and settings, including those in schools, the informal sector, agriculture, sports, creative industries and technology.

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A key part of the exercise is the establishment of approved NYDB registration centres or cluster points. According to the official NYDB platform, young Nigerians can register at approved locations within their state, Local Government Area (LGA), school or other specially designated locations.

This means that not every school, LGA office or public facility is automatically a registration centre. Applicants are expected to use approved NYDB cluster points, where trained registration personnel will guide them through the process.

The exercise is being extended across Nigeria’s 36 states and the Federal Capital Territory, with the programme designed to reach young people in rural and underserved communities as well as those in urban areas.

The registration process begins with a visit to an approved NYDB cluster point, followed by an eligibility check and the creation of a youth profile. Participants are then required to confirm the information provided before completing the registration.

The 15 to 35 age bracket is the target population for the data-bank exercise. The database is expected to be updated continuously to maintain current information on eligible young Nigerians.

The Federal Ministry of Youth Development says the information gathered will help government understand where young people are located, what qualifications and skills they have, whether they are employed or seeking opportunities, and what forms of support may be required.

The NYDB platform identifies education, skills, employment, entrepreneurship, civic participation and health among the key areas of information being developed to strengthen youth-focused planning and interventions.

The initiative is also expected to improve the ability of government and authorised partners to identify young people who may be missing from existing datasets, particularly those in rural communities and underserved groups.

The Federal Ministry of Youth Development has separately announced plans for a National Youth Confab 2026, scheduled to begin in October, with participation expected from young Nigerians across the country’s 360 federal constituencies.

For Nigerians within the 15–35 age bracket, the government is therefore encouraging participation through the approved NYDB registration centres as the nationwide exercise expands.

FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35

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Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’

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Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’

Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’

President Bola Ahmed Tinubu has returned to Nigeria after spending about 30 days in Europe, declaring that he is healthy, sound and ready to work after his extended working vacation.

Tinubu arrived at the Presidential Wing of the Murtala Muhammed International Airport, Lagos, at about 6:22pm on Tuesday after departing Paris, France, where he spent the final part of his trip.

Speaking briefly after his arrival, the President said he had enjoyed his time abroad and dismissed concerns about his health.

“I enjoyed myself,” Tinubu said when asked about his trip.

Asked whether he was ready to resume work, he replied: “Ready to kick. Ready to work. There’s nothing wrong.” He also described himself as “healthy, sound and ready to go.”

Tinubu left Nigeria on August 30 for what was initially announced as a three-week working vacation. He spent time in London before travelling to Paris, with the Presidency later announcing an extension of his stay.

During the European trip, Tinubu maintained contact with Nigerian officials and continued to receive updates on government affairs, according to the Presidency.

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While in Paris, he held a private dinner with French President Emmanuel Macron at the Élysée Palace and met French businessman Vincent Bolloré and executives of the Bolloré Group.

He also witnessed the signing of an agreement involving the Ogun State Government and DP World for the proposed development of the Gateway Deep Sea Port and Blue Marine Economic Zone. The Presidency has described the proposed project as a $7 billion investment.

Tinubu’s extended stay abroad attracted public debate, particularly after he did not personally attend the 81st United Nations General Assembly (UNGA) in New York.

Vice President Kashim Shettima represented Nigeria at the UNGA and delivered the country’s national statement.

The Presidency defended the arrangement, maintaining that Tinubu remained in charge of government and continued to direct affairs while abroad.

His return to Nigeria through Lagos also comes ahead of the country’s 66th Independence Day celebrations on October 1.

Tinubu is expected to attend the premiere of MKO, a documentary on the life of the late businessman and pro-democracy campaigner MKO Abiola, at the Wole Soyinka National Theatre in Iganmu, Lagos.

The film features archival material and interviews with prominent Nigerians, including former military leaders Ibrahim Babangida and Abdulsalami Abubakar, former President Olusegun Obasanjo, Nobel laureate Wole Soyinka and Tinubu.

Tinubu’s return brings his extended European working vacation to an end, with the President expected to resume his regular official engagements as the administration enters the final quarter of 2026.

Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’

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Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria

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Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria

 

President Bola Ahmed Tinubu has departed Paris, France, for Nigeria, bringing to an end his extended working vacation in Europe, with his aircraft expected to arrive at the Murtala Muhammed International Airport, Lagos, later Tuesday.

 

The President left Abuja on August 30 for London to begin his working vacation and subsequently moved to Paris, where he held official engagements, including meetings with French President Emmanuel Macron and business leaders.

 

His stay, initially expected to last about three weeks, was extended by the Presidency, which announced on September 21 that Tinubu would return to Nigeria after a few additional days.

 

In a statement on Tuesday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that Tinubu had departed Paris for Nigeria.

 

Onanuga said the President’s aircraft was expected to touch down in Lagos later in the day.

 

According to the presidential spokesman, Tinubu chose to return through Lagos to honour the memory of the late Chief Moshood Kashimawo Olawale Abiola, widely associated with the struggle for the restoration of democratic rule in Nigeria.

 

The President is also expected to participate in activities surrounding Nigeria’s 66th Independence Anniversary on October 1 before returning to Abuja.

 

Tinubu’s prolonged absence from the country had generated public debate, particularly after he did not personally attend the 81st United Nations General Assembly in New York, where Vice President Kashim Shettima represented Nigeria.

 

The Presidency, however, maintained that Tinubu remained engaged with the affairs of government throughout his stay abroad. It said he continued to issue directives and conduct official business remotely while Vice President Shettima and other senior government officials represented him at various engagements.

 

During his stay in France, Tinubu also held talks with Vincent Bolloré of the Bolloré Group on expanded investments in Nigeria’s creative and digital economy. The State House said the discussions covered areas including film, entertainment, fibre-optic infrastructure and related sectors.

 

His return comes as the administration continues to focus on its economic reform programme, infrastructure development, energy transition and investment drive.

 

The President is expected to remain in Lagos for the Independence anniversary activities before returning to Abuja.

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