General
Petroleum Producers Task Next Admin on Crude Oil Theft, Others
By Adedapo Adesanya
The Independent Petroleum Producers Group (IPPG) has called on the next administration to address the bottlenecks mitigating against industry growth and energy security.
This call was made by the Chairman of the group, Mr Abdulrazaq Isa, on Monday in Abuja at the ongoing sixth edition of the Nigeria International Energy Summit (NIES).
Mr Isa said the administration’s agenda for the industry should be geared toward improving investor confidence through the effective implementation of the Petroleum Industry Act (PIA) and strengthening regulatory institutions.
He said the incoming administration should arrest the menace of crude oil theft across the Niger Delta, which still lingered in spite of the recent successes recorded by the federal government.
Mr Isa listed others as harnessing the nation’s hydrocarbon asset, particularly gas to catalyse and rapidly industrialise the economy, building a broader value-creating midstream (gas processing plants) and downstream (refineries) and transforming Nigeria into a product supplier.
He emphasised the need to eliminate industry-wide subsidies for all hydrocarbon and refined products as they remain detrimental to the growth of a vibrant industry.
Mr Isa also called for an immediate repositioning of the industry.
“The Nigerian oil and gas industry has a very limited window to get things right and must work toward the rapid exploitation of its vast hydrocarbon assets for the socio-economic transformation and deploying same to guarantee our energy security.
“It is instructive to note that this edition of the NIES will be the last of this current administration.
“It is on that note and on behalf of the Board of Trustees and the Governing Council of the IPPG I commend President Muhammadu Buhari for his unwavering commitment to the survival and growth of our industry.
“Under his leadership, his administration has delivered unprecedented milestones across the entire industry, notably, the enactment of PIA in 2021, which has boosted investor confidence after a two-decade lull in activities.
“This landmark legislation has begun the transformation of Nigeria’s oil and gas industry and laid a solid foundation for the growth and development of the industry for future generations,’’ he said.
On his part, Mr Omar Farouk, the Secretary-General African Petroleum Producers’ Organisation (APPO), called for enabling environment for African energy security.
Mr Farouk listed challenges in the African energy industry as a lack of funding, technology and reliance on foreign markets.
He said for seven decades, Africa had been producing petroleum; it had relied essentially on external finance and always depended on foreign technology and, to some extent, expertise to produce the products.
Mr Farouk said that these three challenges had been the focus of APPO in the last three years, and it had concluded that the future of the industry lay in the hands of Africans.
“For the funding of the oil and gas projects across the continent, we have gone into partnership with the African Export-Import Bank to establish Africa Energy Bank with the objective of financing oil and gas projects in the continent.
“For technology and expertise, the APPO secretariat has just concluded a tour of institutions of oil and gas training in some of our member countries for centres of excellence in the petroleum industry.
“We want to banish the mindset that our people are too poor to buy energy and empower people to have access to energy,’’ he said.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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