Business
No Going Back On Oil Sector Deregulation – Minister
The Federal Government is not going back in its plan to deregulate the downstream sector, the Minister of State for Petroleum, Dein Ajumogobia has said.
Ajumogobia, who stated this in an exclusive interview with The Tide recently at the Port Harcourt International Airport, Omagwa, said that the Federal Government is currently doing the necessary home work to ensure that when the deregulation starts, it would be sustained.
According to him, the process is not simply to allow marketers to sell petroleum products at any price they like, but that government is working out a guideline that will create a level playing field for all.
In his words, “It is not a simple matter of allowing people to sell fuel at any price they like, that is not deregulation, government wants those entering into the business to know the criteria and also guard them in their activities”.
The move, he said would discourage another kind of cartel who would want to take over the business and dictate prices, noting that government was committed in making the product available at all times.
“The issue of downstream have been emotive, people feel that when the price of fuel goes up, cost of things and transportation will equally go up and this will encourage hardship. But recently, this administration for the first time reduced the pump price from N70 to N65, the prices of transportation and food items didn’t come down. So, if it is directly, relative, it would have come down”, he said.
Ajumogobia, however, said that the Federal Government believed that deregulating the downstream oil sector would open a new opportunity for investment which will create wealth.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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