Business
LPG Dealer Hails Move To Flush Out Unlicensed Marketers
A Liquefied Petroleum Gas (LPG) also known as cooking gas dealer, Mr Tobi Makinde, has applauded the move by the Department of Petroleum Resources (DPR) to sanction all roadside dealers and marketers of the product at the expiration of the 2 months ultimatum given to the illegal marketers to clear off the streets.
Makinde who gave the commendation in a chat with The Tide, noted that although the task to rid the roadsides and streets of illegal cooking gas dealers rests on the shoulders of LPG dealers associations the would do everything in their powers and within the ambit of the law to comply.
He said the unregistered and unlicensed cooking gas dealers were the bad eggs in the trade, adding that they were also the group that cause hoarding and create artificial scarcity.
According to him, “We, the LPG Retailing Association of NUPENG, have agreed to help flush out the illegal dealers in collaboration with security agencies across the country.
Makinde, who is the Manager of Sungas Plant in Port Harcourt, also noted that, “we would use the two months deadlines to sensitise our members on the dangers of plying their trade within green areas, along residential streets and other unapproved location’’.
Further more, he stressed that illegal dealers in LPG would be compiled to regularise their operations and obtain the necessary documents and licenses that would enable them to freely carry out their trade.
Makinde warned that any unregistered dealer found at the expiration of the two months deadline stand the risk of being sanctioned and prosecuted.
Recall that the Zonal Operations Controller, DPR, Engr. Buba Abubakar, had at a meeting of stakeholders in Abuja, given the LPG Retaining Association of NUPENG, a two months deadline to flush out unregistered and unlicensed dealers in cooking gas.
Tonye Nria-Dappa
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.