Business
DPR Urges Facilities Upgrade In Filling Stations
The Department of Petroleum Resources (DPR), has called on the operators of substandard filling stations in Zamfara to upgrade their facilities or lose their operational licences.
Alhaji Isah Tafida, the DPR Operations Controller, Kaduna Zonal Office, gave this advice in an interview with newsmen in Gusau on Thursday.
“Despite our repeated warnings to owners of these stations, we still have many filling stations that are substandard while some of them appear to have been abandoned.
“We have been calling on them to upgrade their facilities but many of them are not complying with our directives.
“Therefore, we will step up our surveillance activities to focus on them and ensure that they comply with the rules and regulations on that matter.
“We will not renew the license of any substandard station until it upgrades the station to the standards acceptable to the DPR,” he said.
The controller also advised filling stations to do away with any hot substances or inflammable materials, and abide strictly with the DPR rules and regulations.
“In some cases, a pump of fuel may need to be cooled with water before it can operate due to overheat.
“We all know the consequences of having hot object in an environment laden with inflammable gases, as it may result in fire outbreak, which may lead to loss of lives and property.
“The safety of lives and property is very importance to the DPR, therefore, we will not allow anybody to flout safety rules and regulations.
“For safety reason, we will also stop filling stations with such pumps; we are therefore advising the station operators to replace such pumps in order not to endanger lives and property,” he added.
Tafida also urged petroleum marketers to always ensure that they operate in accordance with the set standards and in line with the DPR rules and regulations.
The Tide gathered that the controller held a sensitisation meeting with petroleum marketers and other stakeholders with a view to addressing the challenges in the industry.
Meanwhile, Alhaji Sirajo Kamba, the Chairman of Independent Petroleum Marketers Association of Nigeria (IPMAN), Gusau Depot Unit, has lauded the visit of the DPR officials.
Kamba called on his members to maintain standards and ensure the safety of the filling stations.
The chairman, who made this call in an interview with newsmen, said the association would ensure that defaulting filling stations make amends in view of the importance of safety and set standards.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.