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World Bank Urges Nigeria to Break Petrol Monopoly, Reopen Market to Imports

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Fuel Pump

 

The World Bank has urged the Nigerian government to reopen the petrol market to competition by reinstating import licences in an effort to reduce the inflationary pressures caused by the fallout of the Middle East conflict.

In its latest Nigeria Development Update released , the Washington-based lender says the suspension of petrol import licences since January 2026 “has reduced competition, allowing prices to exceed import-parity levels”.

Word Bank further says

“Allowing qualified marketers to resume imports would restore competition, reduce pricing distortions and better align domestic prices with global benchmarks,” it says. “Greater market contestability would also strengthen supply security by reducing reliance on a single refinery and broadening sourcing options, while remaining consistent with domestic refining objectives.”

 

The World Bank recommends reinstating petrol import licences to dismantle a supply monopoly, aiming to lower domestic fuel costs that currently sit 12% above global benchmarks.

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“Allowing qualified marketers to resume imports would restore competition, reduce pricing distortions and better align domestic prices with global benchmarks,” it says. “Greater market contestability would also strengthen supply security by reducing reliance on a single refinery and broadening sourcing options, while remaining consistent with domestic refining objectives.”

The World Bank points out that following the recent surge in global oil prices, the Dangote refinery – the main supplier of refined petrol after the regulator ceased issuing import licences in early 2026 – raised its ex-depot petrol price to about ₦1,275 ($0.92) per litre as of 23 March 2026.

That compares to an estimated import-parity price of around ₦1,122 per litre, implying a cost differential of roughly 12%, according to the report.

On 13 March, The Africa Report reported that the battle for survival among Nigeria’s traditional fuel importers had intensified in the first quarter of 2026 following the non-issuance of petrol import licence .

 

With the Africa report on the World Bank’s stand on Nigeria’s petroleum market, Nigerians continued to express their mixed feelings, noting that other company owners have staff to pay, they were not given the opportunity to import, Nigeria is a big country and a single company and refinery cannot supply sufficient fuel to the teeming millions of Nigerians. It is the nation’s economy; it cannot be handled by a single individual, and if there is a problem, he cannot handle it alone.

 

Source:Africa Report

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Public Enlightenment Movement Spotlights Northern Nigeria’s Infrastructure and Healthcare Gains Under Tinubu

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The National Coordinator of the Public Enlightenment Movement, Nuhu Abdullahi Balarabe, has unveiled Phase 7 of the organisation’s project update, highlighting major infrastructure and healthcare achievements recorded across Northern Nigeria under the administration of President Bola Ahmed Tinubu.

Addressing members of the press, Nuhu said the initiative remains committed to providing verified information on government projects and developmental progress across the northern states.

He explained that the Public Enlightenment Movement was established to promote transparency, public awareness and citizen engagement by documenting and disseminating updates on strategic national projects.
According to him, the latest phase focuses on critical infrastructure interventions aimed at boosting regional connectivity and economic growth.

Among the projects highlighted is the ongoing reconstruction of the Ajingi–Jahun–Kafin Hausa Road linking parts of Kano State and Jigawa State, which is expected to ease transportation of agricultural produce and improve trade activities across the corridor.

He also noted progress on the dualisation of the Minna–Bida Road in Niger State, describing it as a strategic route expected to reduce travel time and improve road safety for commuters.

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Nuhu Abdullahi further highlighted the accelerated completion of the Kaduna Western Bypass in Kaduna State, noting that the project is designed to improve movement for residents and travellers connecting to the Abuja corridor.

In the same vein, he said the rehabilitation of the previously neglected Shiroro Road in Niger State has significantly shortened travel distances and revitalised economic activities in surrounding communities.

On healthcare, the National Coordinator described the establishment of a world-class cancer centre at Federal Teaching Hospital Katsina as a landmark achievement in the health sector.

According to him, the facility is among the country’s top oncology centres, equipped with modern medical infrastructure aimed at making quality cancer treatment accessible and affordable for Nigerians.

He also cited progress on the Sokoto–Badagry Superhighway, noting that the highway project is advancing steadily across six states with the integration of smart infrastructure such as streetlights and CCTV surveillance to enhance security and traffic management.

Nuhu stated that the projects outlined in the Phase 7 briefing reflect broader national efforts to improve infrastructure, healthcare delivery and economic resilience.

He reaffirmed the organisation’s commitment to sustaining public awareness on government interventions and national development initiatives.

“The projects detailed in this briefing are a testament to the wider national transformation currently underway.

While this phase focuses on northern Nigeria, it reflects a broader commitment to building a resilient, interconnected and healthier nation,” he said.

He thanked members of the media and citizens for their continued support of the Public Enlightenment Movement and called for sustained public engagement in national development.

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BREAKING: INEC Restores Mark-led ADC Leadership on Website After S’Court Ruling

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has updated its website, listing David Mark as the national chairman of the African Democratic Congress (ADC) and Rauf Aregbesola as national secretary following the judgement of the supreme court.

The development, spotted on Thursday evening, reverses INEC’s earlier decision in early April to remove the Mark-led executive from its portal, citing the ruling of an appeal court on the leadership crisis in the ADC.

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The Mark-led faction of the ADC and Nafiu Bala, a former national vice-chairman of the party, have been laying claim to its leadership.

However, earlier today, the supreme court directed Mark to return to the federal high court for the hearing and determination of issues arising from the leadership dispute within the ADC.

Delivering a unanimous judgement, a five-member panel of the apex court, headed by Mohammed Garba, faulted the order of the court of appeal which asked parties in the suit to maintain status quo ante bellum.

Following the ruling, the ADC page on the INEC website, which was taken down initially, now shows the full list of the party’s leadership led by Mark.

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BREAKING: Supreme Court Nullifies Status Quo Ante Bellum Order, Restores David Mark-Led ADC Executive

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By Yusuf Danjuma Yunusa

The Supreme Court has set aside the status quo ante bellum order previously granted by the Court of Appeal in Abuja in the ongoing leadership dispute within the African Democratic Congress (ADC).

The ruling effectively restores the executive committee led by Senator David Mark, reversing its delisting by the Independent National Electoral Commission (INEC).

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Delivering a unanimous judgment on Thursday, a five-member panel chaired by Justice Mohammed Lawal Garba held that the Court of Appeal’s order was unwarranted. The apex court also found that the appeal challenging jurisdiction had been improperly filed—it was based on an ex parte order inviting parties to show cause, without first obtaining the requisite leave of the appellate court.

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