Business
Fuel Scarcity: PH Residents Want Refineries Revived
Some residents of Port Harcourt metropolis have expressed strong view about the state of the nation’s refineries, saying it is largely responsible for the fuel scarcity situation across the nation.
Our Correspondent who spoke with some respondents said, they expressed uniform opinion on the issue.
The Director of Neldan Oil Service Limited, Princess Dema Ogba said, “no amount of rescue effort would ensure sustained free flow of petroleum resources in the country as long as the control of the sector is in the hards of the oil cartel”.
Ogba who noted that the cartel has taken charge of every aspect of the sector urged Federal Government to get the refineries working so as to take back the control of oil from the cartel.
She wondered why refineries cannot work in Nigeria to full capacity when it works in other nations of the world and stressed that with adequate will, the refineries would even work better and the issue of fuel scarcity would become a thing of the past.
The Director said, “a situation where petrol is imported exposes the product to circumstances surrounding the world market as currency depreciation, and extra cost.
Also speaking, Chief Nwalamba Pato, said “it is embarrassment that successive administrations have not exercised adequate political will to get the refineries working.
“If we produce the crude in Nigeria and refine it here, it will cut cost, it will create or expand market, it will create employment and the price will be determined by the local market environment than subjecting it to international influences as in the world’s competitive market”, he explained.
Pato maintained that until refineries in the country begin to work, the same negative interfernces causing scarcity will still be there.
In his own opinion, Mrs Chinyere Nwogu, an international businessman said, “It is funny when people keep saying refineries cannot work here and based on that, the nation keeps importing larger volume of the product from outside the country. It is so because the system has allowed those blocking the way of progress to remain our obstacle”, she said and noted that the best option is to push these elements of progress out of the way and enable the nation move forward.
“Even some countries that import the product from other countries do not suffer the kind of things we suffer in the name of fuel scarcity,” she said and narrated that she had spent over two hours looking for ordinary petrol in a nation so blessed with crude oil.
“This is a shame to us all and it is high time we stopped this nonsense”, said her.
Chris Oluoh

L-R: Deputy Comptroller-General (DCG) of Customs, Trade and Tariff, Mr Akinade Adewuyi; DCG, Human Resources, Mr Ibrahim Mera, Managing Director, News Agency of Nigeria (NAN), Mr Ima Niboro; Comptroller-General of Customs (CGC), Alhaji Dikko Abdullahi; DCG, Enforcement, Investigation and Inspection, Mr Tahir Musa and Special Assistant to NAN Managing Director, Mr Obiora Chukwumba, during a courtesy visit to CGC’s office in Abuja yesterday.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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