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FG Plans Review Of Petrol Pricing Template
The Federal Government has said it would further review its pricing template for petrol with the aim of removing several multi-layered charges and costs that affect the pump price of petrol at service stations across the country.
The government also said it would continue to work with the Central Bank of Nigeria (CBN) to find ways of providing subsidised foreign exchange interventions for oil marketers in the country.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated at the weekend in a podcast he shared in his social media accounts. The podcast, obtained by newsmen, was centred on the challenges of the country’s downstream petroleum sector and the government’s plans to overcome them.
Kachikwu stated in the podcast that, at the moment, the Nigerian National Petroleum Corporation (NNPC) was importing almost all the petrol used in the country, a responsibility he stated the corporation was undertaking at a huge cost.
According to him, marketers in the country were no longer importing petroleum products because of the unfavourable business fundamentals which had been influenced by the rising prices of crude oil.
“Downstream continues to be an area that has numerous challenges, that is why throwing ideas on them will continue to be something that any minister or chief executive of NNPC will continue to focus on,” said Kachikwu.
He further stated: “The environment has since changed, when we did all these, pricing for crude was more in the $25 to $30 per barrel, today it is in excess of $54, which is fantastic because it means that our revenue stream is improving.
“But, it is a twin window, whenever the price of crude goes up, obviously the price of refined petrol goes up and we begin to have systemic challenge in terms of the pricing on the local base, so that gap has begun to return and today what you find is that the NNPC continues to import massively on behalf of the Federal Government. It has gone back to about 90-95 per cent for the whole country and therefore its books are absorbing some of the cost implications of this.”
According to him: “The second is that once this happens the marketers begin to shift backwards, participation by individual marketers to help us continue the normal business and marketing cycle that should be what you expect is no longer existing. Most of them are not importing.”
Speaking on plans to stem the development, Kachikwu stated: “One of the things we are doing is that we are looking at our existing templating position, and what we are doing with that is first addressing some of the soft end of things that affect pricing.
“We are removing too many multi-layered charges on importation, we are working with the ministry of transport to reduce those to what was initially approve by the president, and as such, we should take away a good chunk of the expenses. We are working to see how the CBN can provide us with a fairly subsidised FX for products priced in dollars.”
Though he did not expressly disclose this, the minister however, hinted that the government might begin to wind down the operations of the Petroleum Equalisation Fund (PEF) and transfer its bridging responsibilities to oil marketers.
According to him, “We are trying to see how over a period of time, marketers will take over the PEF responsibilities of funding trucking and keeping prices stable across the country.”
He said in the long run, the NNPC would have to reduce its presence in the country’s petroleum downstream sector because of the cost on its books. The corporation, he noted, would have to begin to operate as a profit entity.
Speaking on product availability in the country, Kachikwu assured that, “There isn’t fuel scarcity, we are not short of products, but yet the downstream and midstream sectors continue to remain challenged. And what we are going to do is to analyse what we have done so far and begin to throw solutions to some of these challenges.”
He also explained that since the introduction of pricing modulation, the country has been able to drop its daily products consumption from about 50 million litres to 37 million litres.
“We had issues of pricing efficiency and governance, for at that time the prices we were selling at were so ridiculously below what the sustainable prices are. And you find a situation where basically marketers disappeared from the industry. So, we had massive shortages, queues and everything seem to be breaking down. We’ve since come out from that.
“First we’ve moved from a fully subsidy-based sector to a partially liberalised sector. I say partially because we haven’t quite achieved the template to have a fully liberalised sector. What that has done for us is that it had reduced consumption from 50 million litres to 37 million litres a day,” he stated.
News
Odu Urges Collaboration Among Stakeholders To Improve Health Service Delivery In Rivers
Rivers State Deputy Governor, Prof. Ngozi Odu, has called for renewed commitment, transparency, and collaboration among stakeholders in the health sector in the State.
The deputy governor particularly urged synergy between the Rivers State Contributory Health Protection Programme (RIVCHPP) and the Primary Health Care Management Board towards improved healthcare delivery in the State.
?Prof. Odu made this call during the 2026 First Quarter Review Meeting of the Task Force on Primary Health Care at the Government House, Port Harcourt, on Wednesday.
?She stressed the importance of honesty and urged all parties to be truthful and open in addressing challenges within the system.
?According to her, transparency remains critical to identifying and resolving underlying issues affecting healthcare delivery, noting that “if we are not truthful, we will not cure the disease, but merely cover it up.”
The deputy governor recounted a personal experience at a Primary Health Center where a patient, despite being duly registered under the RIVCIPP scheme with completed biometric capture, was still asked to make payment for services.
According to her, intervention by relevant authorities later confirmed the patient’s eligibility, exposing a communication gap between the scheme and healthcare providers.
Odu warned that such incidents could discourage community members from enrolling in the scheme, thereby undermining its objectives.
“When this happens, we are disenfranchising our people. The message that goes back to the community is that even when you register, you are still made to pay,” she stressed.
?While commending the leadership and staff of the Primary Health Care Management Board, Ministry of Health, Development Partners as well as other supporting units, for their efforts, ty deputy governor stressed that performance should not lead to complacency.
She urged stakeholders to continuously strive for improvement, raise standards, and leave lasting positive impacts within the system.
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News
You Can Now Print Your Exam Slips, JAMB Tells 2026 UTME Candidates
The Joint Admissions and Matriculation Board (JAMB) has announced the opening of examination slip printing for candidates registered for the 2026 Unified Tertiary Matriculation Examination (UTME).
JAMB made the announcement yesterday, urging candidates to visit its website to download their slips ahead of the examination.
“Examination Slip Printing is now available. The slip contains details of the venue, date and time of your examination and gives you access to the examination hall,” the board said.
Candidates are to visit jamb.gov.ng and click on “2026 Slip Printing” to print their slips.
The development comes after JAMB dismissed a viral press release falsely claiming the examination had been postponed.
The board described the notice as “malicious and fake” and urged candidates to disregard it.
The 2026 UTME is scheduled to hold from Thursday, April 16, to Saturday, April 25, 2026.
The examination follows a mock test conducted on Saturday, March 28, which recorded technical difficulties at some Computer-Based Test centres.
Of the 224,597 candidates who registered for the mock, 152,586 sat for the test across 989 CBT centres nationwide.
JAMB said over 20 centres were delisted for technical inadequacies.
The board also warned candidates against fraudsters on WhatsApp claiming to facilitate score inflation, describing such claims as “false and criminal”, and threatening cancellation of registration or withholding of results for any candidate found involved.
Over two million candidates, according to JAMB Registrar, Prof. Ishaq Oloyede, registered for this year’s UTME.
News
RSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence
In a decisive step towards redefining its future, the Rivers State University, Port Harcourt, has formally unveiled its Third Five-Year (2026-2030) Strategic Development Plan.
The development plan is a comprehensive roadmap designed to strengthen the university’s position as a leading institution in Nigeria and beyond.
The unveiling took place during a high-level engagement with the Governing Council, Principal Officers and the university congregation, at the Convocation Arena, recently.
Delivering his remarks at the unveiling ceremony, the Pro-Chancellor of the university and Chairman of Council, Hon. Okey Wali, SAN, charged all members of the university community to align their activities with the strategic direction of the institution, emphasizing that the success of the plan depends on collective commitment.
He noted that the plan is not merely a document, but a working framework that requires discipline, accountability and unity of purpose.
According to the Pro-Chancellor, only through coordinated efforts from all stakeholders can the university fully realize its vision.
“I hereby invite the Visitor to the University, donor agencies, friends and well-wishers, and all stakeholders to support and fund the implementation of this strategic plan. We are confident that this plan will take RSU to greater heights in the comity of higher institutions,” he said.
The Vice-Chancellor of the University, Prof. Isaac Zeb-Obipi, described the Strategic Development Plan as a document that would enhance the university’s corporate strengths, mitigate current weaknesses, leverage its corporate opportunities and address perceived existential threats.
“This Five-Year Strategic Plan sets out RSU’s goals, strategic objectives, expected outcomes and impact, including intervention strategies,” he said.
On his part, the Chairman of the Strategic Development Planning Committee, Prof. Emeritus Joseph A. Ajienka, noted that the 2026-2030 Strategic Development Plan represents a bold reaffirmation of the university’s founding ideals of excellence, creativity, innovation and inclusivity, aimed at positioning the institution to respond effectively to contemporary challenges in higher education.
Prof. Ajienka, who is also a member of the Governing Council, disclosed that the plan was developed through an extensive and inclusive consultative process, which he said reflects contributions from Faculties, Departments, Satellite Campuses and Administrative Units.
At its core, the plan seeks to advance the university’s vision of becoming a “unique and uncommon” institution that is structurally and philosophically oriented towards solving practical societal problems and ranking among the top ten universities in Nigeria.
The strategic framework identifies six key challenges confronting the university, including funding constraints, infrastructure deficits, limited research collaboration, and service delivery inefficiencies.
A statement by the university’s Acting Director, Corporate Affairs, Victor G. Banigo, further stated that the university has articulated four broad strategic goals supported by eight targeted objectives.
A central priority of the plan, according to him, is the strengthening of governance and administrative systems, alongside deliberate efforts to expand the university’s funding base. Others include enhanced alumni engagement, strategic partnerships and innovative fundraising initiatives aimed at ensuring long-term financial sustainability.
“Equally significant is the commitment to upgrading physical infrastructure across all campuses. Plans are underway to modernize lecture halls and laboratories, expand student accommodation, improve campus security and deploy advanced ICT systems to support teaching, learning and research.
“Recognizing that human capital is the backbone of institutional success, the university has placed strong emphasis on staff development, recruitment and productivity enhancement. Through targeted training programmes, mentorship initiatives and performance management systems, the plan aims to foster a highly skilled and motivated workforce.
“In addition, the university is poised to deepen its focus on research, innovation and entrepreneurship. By reviewing academic curricula, strengthening industry partnerships and establishing innovation incubation centers, Rivers State University seeks to translate research outputs into practical solutions that address societal needs and drive economic growth,” he said.
The PRO disclosed that the implementation of the strategic plan is projected at ?110 billion, reflecting the scale of transformation envisioned.
“While the university is committed to funding a significant portion internally, additional resources will be mobilized through government support, donor agencies, alumni contributions, and public-private partnerships.
“This multi-channel funding strategy aligns with the university’s broader goal of building a resilient and self-sustaining financial model capable of supporting long-term development,” he explained.
To ensure effective implementation, he said, “the plan incorporates a comprehensive monitoring and evaluation framework, complete with performance and impact indicators. A mid-term review is scheduled within the first two years to assess progress and make necessary adjustments.
“Furthermore, the establishment of a dedicated Strategic Planning Office will provide oversight, coordination and accountability in executing the plan across all units of the university.”
According to the statement, “As the university embarks on this transformative journey, the message from leadership is clear: the Strategic Development Plan is a collective mandate.
“For staff, students, alumni and stakeholders, it represents an opportunity to contribute meaningfully to the growth and advancement of the institution. For the university, it is a pathway to consolidating its legacy while embracing innovation and global relevance.
“With a clear vision, defined priorities and a united community, Rivers State University stands poised to translate this strategic blueprint into measurable progress, advancing knowledge, empowering people and shaping the future of higher education in Nigeria.”
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