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Deregulate Totally, Oil Marketers Tell FG

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Oil marketers have urged the Federal Government to fully deregulate the downstream subsector of the oil and gas industry to preserve the country’s dwindling foreign reserves and enhance economic growth.
The marketers said in separate interviews in Lagos last Wednesday that the most pressing reform in the oil and gas sector was total deregulation of its downstream segment.
The marketers said the immediate removal of the fuel subsidy remained the best option to grow the oil sector, saying that over N1.3 trillion was paid on subsidy with little or no benefits to the most vulnerable members of society.
Mr Olufemi Adewole, the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA) urged the government to effect a total deregulation of the downstream sub-sector to attract investments and boost economic growth.
Adewole also urged the government to implement the policy (deregulation); stop the subsidies and ensure sufficient petroleum products and address transportation bottlenecks.
He said all these would address inflation, better the economy and ameliorate the economic uncertainty that characterised the polity.
He urged the government to make consultations on the subject and decide on the ideal approach to achieve deregulation.
He added that oil marketers were very willing to offer expertise and suggest methods that would better the lives of Nigerians, the industry, and the economy at large.
According to him, currently there is partial deregulation of the sub-sector such that government, through the Nigeria National Petroleum Corporation (NNPC), is the sole importer of petrol.
“NNPC imports petrol at a landing cost of N171 per litre and sells at N145 per litre at filling stations.
“Importation of diesel was deregulated and this has created avenues for marketers to import and sell at competitive prices,” he said.
The DAPPMA scribe emphasised that total deregulation of the downstream of the oil and gas subsector remained the best option to address the lingering fuel scarcity and attract new investors into the industry.
“We have to be ready to accept the reality of total deregulation of the downstream sector. I am sure most of the people truly understand the concept of deregulation.
“If we embark on deregulation today, petrol prices will be different across the country; the price may be significantly high at the early stages, but it will reduce gradually as we move on.
“Petrol prices will fluctuate throughout the year, for example, in December and January prices tend to be a lot higher. This is the case in most countries around the world.
“Why is it that refineries are not working in Africa? It is because governments tend to regulate prices.
“If government embraces full deregulation, the private sector and small scale refineries will work effectively to attract investors and patronage within and outside the country,” Adewole said.
He said full deregulation would also encourage people to build businesses along the value chains.
“You can see that most tank farms are having challenges of non-performing loans with Nigerian banks. A lot of that will change because deregulation will bring in some stability to the downstream sector.
“Deregulation will create opportunities for cost reflective tariffs and attract investors because there will be returns on investments. There are no guarantees that you will get your returns on investments with the current downstream operations,” he said.
Alhaji Debo Ahmed, the chairman, Western Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) also urged the government to consider full deregulation of the value chains of the nation’s petroleum sector.
Ahmed said it was high time Nigeria embraced deregulation in full.
According to him, Nigeria can no longer afford to stifle the growth of the oil sector through regulation, adding that the sector should be opened up for active participation of investors, both local and foreign.

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Be Patient With Us, Diri Tells Bayelsans … Inspects New 60mw IPP …Expresses Confidence In Technical Partners, BECL MD

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Bayelsa State Governor, Senator Douye Diri has sued for patience on the ongoing installation of the state’s new independent power project.
The Tide gathered that the 60-megawatt gas turbine project, which installation commenced in October this year, was earlier scheduled to be completed by December but suffered logistics related delays.
The governor called on people of the state to have an open mind about the project, which he said now requires a new completion date due to unforeseen challenges.
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?The Tide further reports that the State’s Chief Executive who undertook an on-the-spot-assessment of the project at Elebele in Ogbia Local Government Area on Wednesday, said like other citizens of the state, he was also disappointed that the December completion deadline could not be met.
However, he stated that his reaction to the delay had been that of understanding rather than being angry as had been noticed, particularly on the social media.
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?”You can see I’ve  gone round the whole facility. It was based on the working agreement and information available at my disposal that I gave the December date. But as it is with every human endeavor, we must all have an open mind, when it comes to issues, particularly technical matters like this.
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?”I am as disappointed as any other Bayelsan because I believed that we were going to celebrate the 2025 Christmas with our own independent power, but it turned out not to be so.
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?”I call on Bayelsans to have an open mind. These technical experts are working virtually 24 hours, but delays like this will certainly come”, he said.
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He implored the people 9f the state to appreciate the work of the engineers, stressing that a minor mistake was capable of jeopardising the millions of dollars expended on the project.
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?”For 29 years Bayelsa has been in darkness or has endured epileptic power supply. Now that we are getting close to the day of liberation, some people have become impatient.
“Let us not behave like the proverbial tortoise in the prison for years that asked to be released immediately as the place was smelling the moment he knew it would regain freedom the next day”, the governor added.
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?The Bayelss Governor gave a thumps up to the technical partners, Jampur Group, and its team on ground as well as the Managing Director of the Bayelsa Electricity Company Ltd, Engr. Olice Kemenanabo, saying they were working round the clock to ensure the job was completed.
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?”Those who have been following me on this inspection would know that work has not stopped even for one day since it started. I am sure the job is more than 90 per cent complete. So let us hold our fire.
“Engineer Olice, I am not putting you under any pressure. From the reports I have, Olice is one of the best electrical engineers in Nigeria”, governor Diri said.
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The governor, however, hinted that the government was looking at inaugurating the project during its sixth anniversary in February.
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The MD of the Bayelsa Electricity Company Limited, Kemenanabo, who also spoke, said the state was on the right track towards actualising the project and assured that the alignment of the entire system, including the gas generator and alternator were on course.
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He also stated that the remaining two turbines would be delivered to the project site in a few days.
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?Speaking on behalf of the Jampur Group, Mr. Sherrif Abu-Anif said the company was in good position to meet its own end of the bargain and appreciated the state government for playing its part very well.
By Ariwera Ibibo-Howells, Yenagoa
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Akpabio Withdraws All Defamation Suits After Priest’s Sermon 

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The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.

Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.

He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.

“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”

In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.

In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.

Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.

Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.

The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.

With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.

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‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’

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Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.

 

Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.

 

He said that the State has what it takes to deliver the President during the 2027 general elections.

 

“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”

 

Fubara expressed delight over the completion of the project,  stating that the initiative was to provide accommodation, a basic need of life  for public servants in the state to improve their productivity.

 

He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.

 

“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.

 

Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.

 

In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.

 

She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.

 

Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.

 

“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.

 

In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.

 

He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.

 

The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.

 

Giving the project description,  Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.

 

Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.

 

Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.

 By: Taneh Beemene

 

 

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