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NMDPRA, oil marketers move to resolve petroleum products distribution challenges as FG no longer pay subsidy

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2 years ago

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has held a meeting with oil marketers to resolve the challenges faced with importation and distribution of petroleum products in the country just as NNPC Group Managing Director has said that the Federal Government is no longer paying subsidy on petrol. Malam Mele Kyari, said this to State House Correspondents in Abuja. He said that contrary to insinuations on social media, the federal government was no longer paying subsidy to any person or group for bringing petroleum products into the country. “No subsidy whatsoever. We are recovering our full cost from the products that we import. We sell to the market. We understand why marketers are unable to import. We hope that they begin to do so very quickly and these are some of the interventions government is making. There is no subsidy,’’ he said.

The meeting was hosted by NMDPRA’s Chief Executive, Mr Farouk Ahmed, on Monday in Abuja. It featured representatives of the Major Oil Marketers Association of Nigeria (MOMAN), the Nigerian National Petroleum Company (NNPC) Ltd. and Independent Petroleum Marketers Association of Nigeria (IPMAN). The Depot and Petroleum Marketers Association of Nigeria (DAPPMAN) and the Nigerian Association of Road Transport Owners, among other stakeholders were also represented at the meeting. The meeting was necessitated by challenges faced by oil marketers, ranging from foreign exchange scarcity for importation of petroleum products, deplorable roads nationwide, non-functional refineries and refusal of banks to provide loans. Ahmed, while speaking to the newsmen shortly after the meeting, said the meeting tackled issues surrounding the seamless distribution of petroleum products and the way forward. He said based on the discussion, the oil marketers solicited the authority’s support to ensure the federal government guarantees availability of petroleum products at affordable prices.

“We had very robust discussions and the oil marketers expressed their concerns and also areas where we can support both the marketers and transporters to ensure that there is flow of petrol products across the country. NNPC Limited has assured of supply and also the marketers have expressed their concerns about the availability of foreign exchange in order to also import and sell. As regulators, we can continue to say the market is open for everybody and all those who have applied for license, over 90 marketing companies have gotten. We have given them access to all the required support that they needed in order to ensure there is a constant supply of products in the country,” he said. On the foreign exchange challenges faced by marketers, Ahmed explained that engagement had been ongoing with the Central Bank of Nigeria (CBN) in that direction to make the dollar available. We are all working towards stabilising of the naira,” he said. Mr Dapo Segun, Executive Vice President, Upstream, NNPC Ltd., assured of the commitment of the national oil company to make petroleum products available to Nigerians.

Segun said the company would continue to shop for supply. “We are looking at ways to resolve these issues. We at NNPC will continue to make sure that supply is there and we will also support the industry.” The Chairman of DAPPMAN, Mrs Winifred Akpani, also assured of adequate supply of the products and said Nigerians should not panic. The government has promised to resolve some of the issues for us, bearing in mind that we just transited from regulated market to deregulated market. We expect some of these issues to come but the most important thing is the willingness of all of us as stakeholders to resolve the problem,” she said.

Also Kyari said that the pockets of low queues witnessed across some states recently were due to bad roads that had made transporters to divert the product to other routes. “We have seen in very few states pockets of very low queues. This is not unconnected with the road situation and that’s why we’re seeing some blockades on our roads. Moving the products from the southern depots into the northern part of the country takes them much longer time now than it used to be. They have to re-route their trucks around many locations for them to be able to reach their destinations and that created delays and some supply gaps. But, that has been filled and we do not see any of such problems again. Secondly, because of the full deregulation that we have in this sector, marketers are now competing amongst themselves,” he said. The NNPCL group managing director also said that some of the queues were caused by the preference of customers to patronise filling stations that offered low prices.

“You must have noticed that some fuel stations will reduce their prices by N2 or N3. So customers will naturally run to the places where you have that reduction in prices and probably create panic. This is because those who don’t know why they are doing it will think that there’s something happening or that there’s an ominous sign of scarcity,’’ he said. According to him, there are over 1.4 billion litres of petrol available for local consumption, both on the seas and on land, adding that there is no cause for alarm. Kyari said that market forces were now playing out and that marketers were competing for the product and how to satisfy their customers as well. “There are few issues we’re engaging them to resolve, alongside other agencies of government, particularly critical issues around access to foreign exchange. And as you all know, government is doing so much to ensure supply of forex into the market. We know that this FX markets will stabilise the current I&E window is around 770. And we know that those inputs from government will crystalise and they will come to an equilibrium position in the FX market and this is the dream of this country,’’ he said. Kyari assured marketers of a stable forex and a situation where the prices of the product would align with the prices of other 

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Cardano rises as midnight launch triggers rally

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16 hours ago

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December 7, 2025

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Cardano (ADAUSD) climbed amidst tight trading activities in the crypto market, up by 1.05% in the past 24 hours, showing resilience near key support.

The price ticked up on Sunday amidst negative movements in the global crypto market. The gain has reduced its negative movement in the week to 1%. Cardano is showing strength with a $70 million ADA treasury push and a bullish December setup, but it faces key resistance amidst competing traders.  

The token is trading at $0.4165 at the time of filing the report on Sunday, gaining more than 1% on the day as volume traded reached $359.252 million. The token is in a notable correction from its November highs. Recent trading activity reflects pronounced investor caution. Over a 30-day period, ADA has declined approximately 15%, mirroring the broader pressure on risk assets from macroeconomic uncertainties.

Sentiment trades mixed, as retail and mid-sized investors are accumulating at lows, but large holders remain sceptical. Cardano’s privacy-centric Midnight Network went live after years of development, introducing NIGHT – the first native asset on Cardano.

According to crypto analysts, Short-term speculation around NIGHT airdrops and interoperability boosted ADA demand. ADA rebounded from $0.371–$0.416 after testing an ascending trend line connecting 2023–2025 lows. Traders interpreted the bounce as a bullish divergence, but ADA remains below critical resistance of $0.5113 and its 200-day EMA of $0.68.

ADA’s minor rally reflects optimism around Midnight’s launch and oversold technicals, but scepticism about its ecosystem impact and whale selling caps upside. While the price surges, analysts stated that Cardano balances technical hope against macroeconomic headwinds, with Midnight’s adoption trajectory and $0.51 resistance serving as critical watch points.

While governance upgrades signal maturing decentralisation, crypto analysts are still querying whether ADA can leverage these developments to reverse its 2025 underperformance.

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NDLEA intercepts 7.6m tramadol pills, 76,273kg Colorado

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16 hours ago

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December 7, 2025

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The National Drug Law Enforcement Agency has recovered over 7.6 million pills of tramadol and a total of 76,273.4 kilograms of different strains of cannabis.

The agency’s spokesman, Femi Babafemi, said this in a statement on Sunday in Abuja. Mr Babafemi said that the drugs, including Colorado, Loud and Skunks, had several members of drug trafficking organisations linked to the seizures arrested.

He said that out of the total opioids seized during the raids, not less than 3,874,000 pills of tramadol, 225mg and 100mg, and others, as well as 252.2litres of codeine syrup were recovered. He said that they were recovered from a warehouse at Oko market, Asaba, Delta, on Saturday. He also said that no fewer than 1.2 million tablets of tramadol 225mg were seized from a suspect on December 3.

This, he said, was when NDLEA operatives on patrol at Orogwe, along the Onitsha-Owerri road, Imo, intercepted his vehicle conveying the consignment, which was loaded at Aba, Abia, and heading to Onitsha, Anambra. Meanwhile, in Adamawa, NDLEA officers on December 1 intercepted a Toyota Hiace bus marked MGU 554 XB along Maraba-Mubi, coming from Jos, Plateau state, and heading to Mubi, with a total of 1,577,112 capsules of tramadol.

“Other drugs intercepted were Exol-5 tablets, all concealed inside jumbo bags mixed with new rubber sandals and slippers. Two suspects were arrested in connection with the seizure. Similarly, another 27-year-old suspect was nabbed along Zaria-Kano road, Kano state, with 197,000 pills of exol-5,” he said.

The NDLEA chairman, Buba Marwa, commended the officers and men of the SOU commands in Delta, Adamawa, Imo, Ondo, Lagos, and Kano for the arrests and seizures. Mr Marwa said that their operational successes, along with those of their compatriots across the country, especially their balanced approach to drug supply reduction and drug demand reduction, were well appreciated. NAN

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Lagos, Kaduna, Oyo, FCT, Ogun top 2025 subnational ease of doing business report  

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16 hours ago

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December 7, 2025

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The Presidential Enabling Business Environment Council (PEBEC) has released the 2025 Subnational Ease of Doing Business (EoDB) Report, with Lagos emerging as the best-performing state, scoring  85.6 per cent.

The report released by the director-general of PEBEC, Zahrah Mustapha-Audu, has Kaduna in second position with  65.1 per cent. Oyo, FCT, and Ogun rounded up the top five with scores of 62.7 per cent, 61.0 per cent, and 59.9 per cent, respectively. Others include Enugu (56.2 per cent) in sixth position, with Plateau (56.2 per cent), Ekiti (55.8 per cent), Kano (54.8 per cent), and Nasarawa (53.4 per cent) rounding out the top 10 states.

The EoDB report is a comprehensive data-driven assessment of how Nigeria’s 36 states and the FCT are shaping business competitiveness through regulation, infrastructure, and administrative efficiency.
The report assesses performance across 16 indicators and 36 sub-metrics covering electricity, infrastructure, digital connectivity, land administration, taxation, trade logistics, justice delivery, investor support and skilled labour readiness.

According to the DG, these states distinguished themselves through consistent reform momentum, improved digital processes, and more predictable regulatory environments. “The 2025 Report also highlights five priority interventions states can implement immediately. These include establishing investor aftercare systems, strengthening MSME credit enablement, harmonising interstate trade rules, upgrading commercial justice processes, and improving power reliability for industrial clusters,” she said.

According to her, PEBEC  will continue to support state-led reform adoption, particularly under the $750 million State Action on Business Enabling Reforms (SABER) programme. She added that “the 2025 Subnational EoDB Report provides a critical foundation for policy action, investment decisions, and long-term competitiveness across Nigeria.”
The DG said the  Subnational Ease of Doing Business Report is available for download at www.pebec.gov.ng/reports

PEBEC had earlier released its 2025 Business Facilitation Act (BFA) Performance Report, covering MDAs’ performance from January to October. This performance report is part of the council’s  effort to track and measure the compliance of federal government MDAs with the BFA’s requirements on promoting Transparency and Efficiency of government-delivered services to the  business community.

The report presents a data-driven assessment of 69 priority MDAs, drawing on monthly compliance submissions, independent mystery shopping, website audits, ReportGov analytics, and targeted process-verification exercises.

According to the report, the top five performing MDAs include the Nigerian Content Development and Monitoring Board (NCDMB), with an impressive 90.6 per cent score, followed by the National Drug Law Enforcement Agency (NDLEA) at 89 per cent. The Nigeria Customs Service (NCS), ranks third with 86.6percent, the  Nigerian Communications Commission (NCC) and Nigerian Ports Authority (NPA) secured the fourth and fifth positions, scoring 85.3 per cent and 84.2 per cent, respectively.

PEBEC, currently chaired by Vice President Kashim Shettima, was established in July 2016 by the federal government to oversee Nigeria’s business environment intervention. It has a dual mandate of removing bureaucratic and legislative constraints to doing business and improving the perception of the ease of doing business in Nigeria. NAN

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