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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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ADC Leadership Crisis: Federal High Court Adjourns Case Indefinitely   

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By Yusuf Danjuma Yunusa

 

Justice Emeka Nwite of the Federal High Court, Abuja, has again adjourned indefinitely a suit filed by a chieftain of the African Democratic Congress (ADC), Nafiu Bala Gombe, following a request by the plaintiff seeking the transfer of the case to another judge.

 

Justice Nwite adjourned the matter sine die after parties clashed over a letter written by the plaintiff to the chief judge of the Federal High Court seeking the reassignment of the suit.

 

At Friday’s proceedings, counsel for the plaintiff, Luka Haruna, informed the court that the apex court had on April 30 delivered judgment in the interlocutory appeal.

 

Haruna said the Supreme Court dismissed the appeal for lack of merit and also set aside the Court of Appeal’s order staying proceedings in the substantive suit.

 

The lawyer, however, disclosed that the plaintiff had, through a letter dated May 4, 2026, applied to the chief judge of the Federal High Court for the transfer of the case to another judge.

 

He said the letter had already been transmitted to the court registrar and urged Justice Nwite to await the administrative decision of the chief judge.

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The request immediately drew strong opposition from the defence team, which accused the plaintiff of attempting to frustrate the accelerated hearing earlier ordered by the Court of Appeal and upheld by the Supreme Court.

 

Counsel for the first defendant, Realwan Okpanachi, who held brief for Shuaibu Aruwa, argued that the plaintiff had misrepresented the outcome of the Supreme Court judgment.

 

According to him, the apex court partially allowed the appeal and specifically upheld the appellate court’s order directing accelerated hearing of the case.

 

Okpanachi further faulted the plaintiff for allegedly ambushing the defendants with the transfer request.

 

He added that they consider it an attempt to frustrate the order of accelerated hearing granted by the Court of Appeal and upheld by the Supreme Court.

 

The senior lawyer maintained that litigants were not permitted to choose courts or judges to determine their cases.

 

He, however, urged the court to maintain the earlier order adjourning the matter sine die pending the filing of the certified true copy of the Supreme Court judgment.

 

Counsel for the second defendant, Sulaiman Usman, also condemned the plaintiff’s move, describing it as “forum shopping and judge shopping”.

 

Usman told the court that the Supreme Court had commended Justice Nwite “in glowing terms” over his handling of the proceedings.

 

Responding, Haruna faulted the defence for attacking a letter they had not seen, insisting that the plaintiff stood by its application.

 

Justice Nwite subsequently held that the court could not take any decision on the letter without hearing all parties.

 

“Taking a decision or any action in such a letter without hearing from the defendants will amount to a breach of their fundamental right in this suit,” the judge ruled.

 

He added that since the letter was addressed to the chief judge, the trial court could not make any pronouncement on it.

 

“This matter is best adjourned sine die to afford the parties the opportunity to properly file a Certified True Copy of the judgment of the Supreme Court in the interlocutory appeal in the suit, to serve the defendants with the letter addressed to the Honourable Chief Judge, and finally to await further or any directive from the Chief Judge of the Federal High Court,” Justice Nwite said.

 

The matter was thereafter adjourned indefinitely.

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WAEC Opens Registration for 2026 WASSCE for Private Candidates 

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By Yusuf Danjuma Yunusa

 

 

The West African Examinations Council, Nigeria, has announced the commencement of registration for the 2026 West African Senior School Certificate Examination for Private Candidates, Second Series.

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WAEC, in an announcement on its X handle on Friday, said, “Registration opened on Sunday, May 4, 2026, and will close on Thursday, July 31, 2026.”

 

It added that the examination will be conducted entirely as a Computer-Based Examination.

 

The registration fee is set at ₦37,000.

 

Candidates are advised to visit the nearest WAEC office in their state to confirm available examination towns before completing their registration.

 

WAEC encouraged prospective candidates to register early to avoid a last-minute rush and to take full advantage of the computer-based format.

 

The WASSCE for Private Candidates (Second Series) is a special annual examination organised by WAEC for individuals who are not in regular secondary schools, allowing them to register and sit for the examination independently to obtain the certificate.

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NSA Nuhu Ribadu Meets JD Vance to Bolster US-Nigeria Counterterrorism

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By Yusuf Danjuma Yunusa

 

Nuhu Ribadu, national security adviser (NSA), recently met with JD Vance, vice-president of the United States; and Marco Rubio, US secretary of state; over counterterrorism cooperation in West Africa.

 

In a post on X, Secure Nigeria, a social media platform focused on security issues, stated that the meeting reinforced the partnership between Nigeria and the US in combating terrorism across the region.

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The post added that President Bola Tinubu appreciates the partnership and continued support of the US government under President Donald Trump.

 

“@officialABAT is grateful for @realDonaldTrump’s partnership and continued U.S. training and intelligence support as Nigerian forces intensify operations to dismantle terrorist networks, protect Nigerian Christians, and defend all vulnerable communities,” the post reads.

 

“Africa’s largest democracy isn’t wavering. Nigeria stands as a frontline U.S. partner against ISIS, Boko Haram, and rising terror threats across the Sahel.”

 

The platform said both countries remain committed to defeating terrorism and strengthening regional security cooperation.

 

“This fight is winnable, and together, the U.S. and Nigeria intend to finish it,” the post added.

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