The Federal Government has scheduled a national stakeholder forum for July 23 and 24, 2025, to tackle rising concerns over petrol pricing and supply issues within the deregulated downstream sector. Organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the summit aims to bring together key industry players, including refiners and marketers, to establish pricing standards and ensure adequate crude oil supply. Francis Ogaree, an executive director at the regulatory authority, announced the event during the Nigeria Oil and Gas Energy Week, emphasizing that the dialogue is necessary to build a stable and resilient market following the removal of fuel subsidies. The meeting comes in response to heavy criticism from independent marketers over sudden, unannounced price changes by the Dangote refinery, which have negatively impacted local retailers. Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria, has continuously called for pricing transparency and fair market practices to protect retailers. Additionally, unions like the Petroleum and Natural Gas Senior Staff Association of Nigeria have accused marketers of exploiting citizens with inflated prices, arguing that Premium Motor Spirit should ideally cost between N700 and N750 per litre. While addressing these challenges, Francis Ogaree noted that Nigeria currently has ten operational or near-operational refineries—including three owned by the Nigerian National Petroleum Company—but warned that the country must boost its crude oil production to meet the feedstock demands of these facilities and dozens of newly licensed projects.
Index to Nigerian Newspapers
