The Federal Government has fixed July 23 and 24, 2025, for a national stakeholder forum to address mounting concerns over petrol pricing and supply dynamics in the downstream sector, amid growing agitation by independent marketers for price regulation.
The planned summit, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, is expected to bring together industry operators, marketers, refiners, and government officials to deliberate on petroleum pricing standards, feedstock adequacy, and strategies to stabilise the deregulated market.
The Executive Director of Hydrocarbon Processing Plants, Installation and Transportation Infrastructure at the NMDPRA, Francis Ogaree, confirmed the date and summit at the just concluded 24th Nigeria Oil and Gas Energy Week held in Abuja.
The director further stressed the need for dialogue to build a resilient pricing system in the post-subsidy era. Recall that there has been agitation and concerns expressed by petroleum marketers over sudden changes in the price of Premium Motor Spirit, also known as petrol, without prior notice by the Dangote refinery.
The President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, has repeatedly emphasised the need for a stable market and consistent energy security, advocating for mechanisms to analyse price fluctuations and ensure they don’t negatively impact the industry.
Gillis-Harry called for transparency in pricing, particularly in relation to the impact of Dangote’s price reductions on retailers who may have purchased fuel at higher prices. They have also called for fair pricing practices and the avoidance of untoward practices in the industry.
Similarly, the Petroleum and Natural Gas Senior Staff Association of Nigeria last month questioned the petroleum pricing regime, stressing that petroleum marketers are exploiting Nigerians through inflated petrol prices and insisted that the current pump price of PMS should range between ₦700 and ₦750 per litre.
Responding to these concerns, Ogaree said the NMDPRA was aware of the operational uncertainties confronting players in the sector, and has taken concrete steps to standardise pricing while encouraging more investment in local refining.
The PUNCH