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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.

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.

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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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FG Launches Energise Commercialisation to Turn Nigerian Innovations into Market-Ready Ventures

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The Federal Government has officially launched the Energise Commercialisation initiative, a nationwide programme aimed at transforming innovative ideas into market-ready products and services.

Speaking at a press briefing in Kano, Minister of Science and Technology, Dr. Kinsley Tochukwu Udeh, said the initiative shows the government’s commitment to unlocking Nigeria’s innovation potential and driving economic growth through research and development.

Dr. Udeh explained that dignitaries and global partners are expected to converge on Kano from across Nigeria and beyond to participate in the programme. He noted that the gathering reflects the growing interest in Nigeria’s innovation ecosystem and the need to connect local talent with international opportunities and partnerships.

According to the minister, Nigeria is not lacking in ideas but has historically struggled with converting those ideas into revenue-generating ventures. He said the Energise Commercialisation programme is designed to bridge that gap by supporting innovators through the process of developing viable, market-driven solutions.

He further stated that the initiative will extend beyond its initial technical sessions in the North-West geopolitical zone. “After the North-West phase, we will move to other geopolitical zones to ensure nationwide participation,” Dr. Udeh said, emphasizing the Federal Government’s plan to make the programme inclusive and far-reaching.

The minister disclosed that more than 1,000 entries have already been received from innovators across the country. He added that the Federal Government is working in collaboration with regional governors to strengthen participation and ensure that promising ideas are identified and supported at the grassroots level.

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Dr. Udeh highlighted the role of young women in the programme, noting that their innovative efforts will be nurtured and positioned for success in the marketplace. He said the initiative is focused on equipping participants with the tools and support needed to compete effectively in both local and global markets.

Describing the programme as a strategic investment, the minister said the government is committed to funding and developing innovation-driven projects that can generate economic value. He added that Energise Commercialisation is designed to stimulate a surge in viable research outcomes and practical innovations.

He also noted that the government is anticipating strong engagement from captains of industry, who are expected to play a key role in mentoring participants and supporting the commercialisation of research outputs. According to him, this collaboration will help bridge the gap between academia, innovation, and industry.

Dr. Udeh revealed that Kano State has recorded the highest number of entries so far, making it a natural choice for the national launch of the programme. He described Kano as Nigeria’s ancient commercial hub, adding that its historical and economic significance makes it an ideal host city.

He further explained that the choice of Kano was influenced by the support of the state government, particularly in providing logistics and enabling a conducive environment for the event. The minister commended the Kano State Government for its commitment to fostering innovation and entrepreneurship.

Dr. Udeh said the programme is focused on building a sustainable platform that connects innovators, investors, and policymakers. He noted that contingents from the seven North-Western states have already arrived in Kano and set up their pavilions, showcasing a wide range of innovative ideas and projects.

He described Energise Commercialisation as a multi-stakeholder initiative anchored by the Federal Government, with strong institutional support at regional and state levels. According to him, the programme includes facilitation committees that will oversee implementation and ensure effective coordination.

The minister added that state governments have been tasked with identifying and nurturing talent from local government areas, ensuring that innovation opportunities are not limited to urban centres. He stressed that the inclusion of grassroots participants is critical to the success of the initiative and the overall development of Nigeria’s innovation ecosystem.

 

Those that jointly attended the briefing are the state commissioner for information Ibrahim Abdullahi Waiya and the Kano state ALGON chairman Hajiya Saadatu Yushau who is also the chairman of Tudun Wada Local Government area .

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Barau Jibrin Drives Grassroots Empowerment with 47 Vehicles, 287 Motorcycles in Kano North

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The Deputy President of the Senate, Barau Jibrin, has distributed 47 vehicles and 287 motorcycles to members of the All Progressives Congress (APC) across the Kano North Senatorial District as part of efforts to support grassroots empowerment.

The beneficiaries include APC local government chairmen, their secretaries and other party stakeholders in the district.

Barau, who spoke through the State Coordinator of the Renewed Hope Agenda, Salihu Sagir Takai, said the intervention was in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

He said the vehicles and motorcycles were meant to ease economic hardship and improve the livelihoods of the beneficiaries.

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According to him, the initiative is part of his continued interventions in human and capital development in Kano North, adding that more programmes would follow.

“This is not the first time we are carrying out such an intervention, and it will certainly not be the last,” he said.

The Chief of Staff to the Deputy President of the Senate, Professor Muhammad Ibn Abdullahi, described the gesture as a capital-intensive intervention aimed at lifting beneficiaries out of poverty and promoting self-reliance.

He said Kano North was fortunate to have a leader committed to initiatives that stimulate development and improve living standards.

Abdullahi also urged the beneficiaries not to sell the items but to use them productively to generate income.

Similarly, Barau’s media aide, Shittu Madaki, said the items were carefully distributed to selected beneficiaries, noting that more empowerment programmes were in the pipeline.

Also speaking, Takai, a former governorship candidate in Kano State, said the intervention reflects the Renewed Hope Agenda at the grassroots level, aimed at reducing poverty and improving the welfare of constituents.

Since his election as the Deputy Senate President on 2024 Senator Barau Jibrin has been empowerimg his constituents on self reliance and capital support to small scale industrialists

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One Kano Agenda Commends Governor Yusuf For Selecting Garo As Deputy Governor

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The One Kano Agenda wishes to commend His Excellency, Alh. Abba Kabir Yusuf, for the nomination of Murtala Sule Garo as Deputy Governor, as the decision is strategic move that reflects foresight, inclusiveness, and commitment to effective governance.

We wish to note that, the nomination aligns with the broader vision of strengthening governance through experienced leadership capable of bridging policy direction and grassroots realities.

It is our belief that, Governor Yusuf’s decision has demonstrated a clear understanding of the political and administrative demands of the state, emphasizing that leadership at such a critical level requires competence, loyalty, and a deep connection with the people.

“The nomination of Hon. Murtala Sule Garo is a commendable step toward consolidating governance and enhancing administrative coordination. It reflects a deliberate effort by His Excellency to prioritize capacity and experience in advancing the state’s development agenda

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As we observe, Hon. Garo’s track record in public service and political engagement, positions him as a valuable asset in supporting the Governor’s vision for sustainable development and responsive governance.

One Kano Agenda therefore wishes to call on stakeholders across political divides to rally behind the nomination, stressing that unity and collective responsibility remain essential for achieving long-term progress and stability.

We urge political actors to embrace collaboration over division, noting that the success of governance ultimately depends on shared commitment to the welfare of the people.

We wish to reaffirm our support for the administration, and we pledge our continued advocacy for policies and decisions that promote inclusiveness, institutional strength, and improved service delivery across Kano State.

We equally express confidence that the nomination will further strengthen governance structures and contribute positively to the realization of the administration’s developmental objectives.

 

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