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We won’t fix petrol prices again – NMDPRA

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Faruk Ahmad

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will no longer fix prices or release templates for Premium Motor Spirit (PMS).

Authority Chief Executive (ACE), Mr Farouk Ahmed, who said this at a news conference in Abuja on Friday, said that market forces would henceforth dictate prices under the liberalised market.

“As far as we are concerned in the NMDPRA, this is not like before when the PPPRA fixes the price; in a deregulated market, it is the market force that dictates the price,” he said.

The News Agency of Nigeria (NAN) reports that the development was sequel to the removal of subsidy on PMS known as petrol.

President Bola Tinubu had in his inaugural speech on Monday said fuel subsidy regime had ended with the commencement of his administration.

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Nigeria’s Dangote Refinery Will Transform our Downstream Sector, Says Ghana Petroleum Authority

Ahmed, however, said the market was now open for everybody that would import as far as they met all the requirements.

“So, it is not about the Nigerian National Petroleum Company Limited (NNPC Ltd) alone.

“We put the regulation in place, we make sure quality control is complied with, we make sure the product is there and we give licence to prospective importer.

“We make sure we guide the operations of everyone in the sector whether at the depot or wherever the product is but we will not put a cap to say this is what the price must be,” he said.

According to Ahmed, the role of the NNPC is to fix prices of the petrol it imported and not take over the responsibilities of the Authority.

“In the case of the NNPC, the organisation is the sole importer at this point. We told the NNPC to recover its costs because they know how much it cost them to import the product and sell it.

“Of course, we also know how much shipping, offshore, ex-depot and ex-pump are. But we cannot tell them to sell at a price because the market is deregulated,” he added.

The NMDPRA boss also disclosed that the Federal Government has officially scrapped petroleum equalisation as well as the national transport allowance.

He said the NMDPRA, the federal government and Consumer Protection Commission (FCCPC) would mount aggressive monitoring of activities in the downstream sector to prevent profiteering by petroleum marketers.

Ahmed further disclosed that marketers are now free to source their foreign exchange anywhere around the world to import petroleum products and recover their costs without impediments.

On where the importers will source their forex from, Ahmed said the CBN would not give dollar to anyone because of open market, adding that anyone willing to import should get the dollars from anywhere to import.

According to him, anyone willing to open a letter of credit from any part of the world can do that to import.

“That marketers can source their forex from anywhere is the beauty of the liberalised market that the NMDPRA has introduced based on the provision of the law”.

Ahmed said that the market would henceforth be modulated to allow the fluidity of prices, adding that though no template spelt out the pricing components of petrol price.

He said that, “based on this, the price would no longer be static rather depend on the international price of the gasoline market.

“This did not imply that marketers could sell at any price”.

According to him, the NMDPRA and FCCPC will collaborate to curb excesses if certain prices were way above the expected profit margin.

“The market structure will dictate the price swings at every point in time,” he said.

Ahmed cautioned against optimism for cheap petroleum products, saying products may not be cheaper because the company would be buying crude oil at the international price.

“Dangote Refinery is a game changer in terms of accessibility. By the time the NNPC refineries and other modular refineries across the country come on stream, Nigeria will be a net exporter of petroleum products,” he said. (NAN

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Benue Attacks: Death Toll Rises to 72 as More Bodies Are Recovered

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Death toll from the multiple attacks carried out by armed invaders on communities in Benue State has risen to 72.

This followed the recovery of 13 more bodies from the attacks on Ukum and Logo Local Government Areas of the state.

During his Easter remark in Makurdi, on Sunday, Governor Hyacinth Alia had acknowledged a total recovery of 59 bodies

However, the discovery of more bodies from surrounding bushes of the troubled communities increased the fatalities.

Principal Special Assistant (PSA) to Benue Governor on Media and Content Creation, Isaac Uzaan, who gave the update, said the bodies were found in both attacked local government areas.

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Wike Allegedly Working for APC to Sabotage His Own Party, Claims PDP Chairman

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The Acting Chairman of the Peoples Democratic Party (PDP) in Rivers State, Robinson Ewor has made an allegation against the All Progressives Congress and the Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Ewor alleged that Wike is working with the ruling All Progressives Congress (APC) to sabotage the PDP from within.

Speaking during a live appearance on Arise News on Monday, 21 April 2025, Ewor claimed that Wike’s actions and affiliations clearly indicate he is no longer a true member of the PDP, alleging that the former governor is being funded by the APC to destabilise both the party at the national level and the Rivers State chapter ahead of the 2027 elections.

Ewor explained that the party experienced no internal troubles before the 2023 general elections until Wike lost his presidential ambition and subsequently failed to clinch the vice-presidential ticket.

According to him, Wike’s personal disappointment triggered the crisis that later engulfed the party.

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First and foremost, PDP had no issues preparatory to the 2023 general elections. Wike, the current FCT minister, wanted to be the president of the Federal Republic of Nigeria. And he submitted himself to the primaries of the party. But Atiku won the party ticket. Thereafter, Wike wanted to be the vice president. Because Atiku did not pick him to be the vice presidential candidate, Wike started the crisis in PDP,” Ewor stated.

He added that Wike spearheaded the formation of the G5 group, which he claims had one mission: to damage the PDP’s chances at the polls.

“This was the genesis of the crisis in PDP: First, because Wike lost the presidential ticket. Second, Atiku Abubakar did not pick him as a vice presidential ticket,” Ewor explained.

He started the crisis in PDP and formed what we call, what Nigerians know as G5. What does the G5 stand for? Destroy PDP. Ensure that Atiku Abubakar did not win the election. That was what the G5 stand for. Today, the party has moved beyond the 2023 general election.”

On Wike’s continued interference in PDP affairs, Ewor questioned the logic of advising a party he is “busy destroying.”

Wike is no longer in the party. How do you advise a party you are no longer a member? How do you advise a people you are busy destroying? How do you advise a party that you are at the forefront of bringing it down?” Ewor queried.

“The crisis we find today in PDP is not because the PDP is in crisis. It is because the FCT minister is on a mission to destroy the party. He is on a mission to destroy the party. And he has started it in River State.”

 

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President Tinubu Returns to Nigeria After 19-Day European Visit

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President Bola Ahmed Tinubu has made his return to Nigeria following a 19-day trip to Europe, which included private visits to France and the United Kingdom. His arrival marks the end of a journey that has drawn attention both domestically and internationally.

The presidential aircraft touched down at the Nnamdi Azikwe International Airport in Abuja on Monday evening. The president was welcomed at the airport’s presidential wing by an array of dignitaries and members of his cabinet. Among those present were Nyesom Wike, the Minister of the Federal Capital Territory (FCT); Nuhu Ribadu, the National Security Adviser (NSA); and Femi Gbajabiamila, the Chief of Staff (CoS). Their presence underscored the significance of the president’s return and the unity within his administration.

While the details of President Tinubu’s engagements during his European visit remain private, the trip is believed to have included discussions on matters of national interest and international diplomacy. The president’s return comes at a time when Nigeria faces pressing challenges, including economic reforms and security concerns, which are expected to dominate his agenda in the coming weeks.

The reception at the airport was marked by a sense of anticipation, as members of the cabinet and other officials expressed their readiness to resume work under the president’s leadership. The atmosphere reflected the administration’s commitment to addressing the nation’s priorities and fostering progress.

President Tinubu’s European visit has sparked speculation about potential developments in Nigeria’s foreign relations and economic strategies. As the nation awaits further updates, the president’s return signals a renewed focus on governance and the implementation of his administration’s policies.

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