Editorial

No To New Fuel Pump Price

Published

4 years ago

July 29, 2022

The recent increase in the pump price of the Premium Motor Spirit (PMS) from N165 to N179 perlitre across Nigeria has come as another rude shock to millions of Nigerians. This development necessitates another clarion call on the Federal Government to find lasting solutions to the lingering fuel crisis still bedevilling the oil-producing country.
Indications that the cost of PMS may go higher manifested when the product became scarce with long queues at filling stations in parts of the country since February this year. Specifically, residents of the Federal Capital Territory (FCT), Lagos and a few other cities had to bear the brunt of the shortage. The situation altered when fuel stations unilaterally changed the pump price.
The Nigerian National Petroleum Corporation (NNPC) Limited initially denied issuing a directive on the new petrol price, claiming that fuel pricing directly falls under the responsibilities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). But even at that time, filling stations owned by the corporation were selling the product at N179 all over the country. However, it was surprising when the NNPC stealthily approved an upward review of the product’s price.
NNPC, in a notice to fuel marketers, directed them to change the petrol price on pumps to the new price regime. This was even as the company equally increased the ex-depot price from N148.17 to N167 per litre. That came after weeks of a resurgence of petrol scarcity in the country as fuel retailers were adopting different price bands to compel unofficial deregulation attempts.
Expectedly, the sudden hike has effected an exponential increase in transport fares, with a domino effect on the costs of consumables. There is also the loss of valuable man-hours as fuel-seeking transporters are held up at some filling stations. All these have, no doubt, exacerbated the persisting hardship experienced by the citizens, still grappling with a soaring inflation rate, among others.
Blaming the development on the non-payment of backlogs of bridging claims, an increase in the cost of diesel by tanker drivers to transport products across the country, among other issues, oil marketers had been adamant on their preferred price regime. According to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), the supply of PMS could not sufficiently meet demand, hence, the need for total deregulation of the sector.
PETROAN said PMS sold for between N158 and N160 in the private depots where marketers were coerced to buy because the NNPC depots were inoperative, thus, selling at the official pump price was unrealistic. The Major Oil Marketers Association of Nigeria (MOMAN) had joined their counterparts in the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Natural Oil and Gas Suppliers Association (NOGASA) to call for an upward price review of the PMS.
The marketers also attributed the inability of the Central Bank of Nigeria (CBN) to meet foreign exchange demands from the private sector as a reason for the fuel hike. According to the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, the oil marketers were unable to obtain forex at the CBN rate, which is cheaper than the parallel market.
Regardless of the economics and price dynamics of the importation and distribution of petroleum products in the country, we insist that the new PMS price should be reversed forthwith. We urge organised labour, workers, and the masses to reject any further increase in the pump price of fuel from the old rate in the guise of gradual subsidy removal. Nigerians should prepare for a total war against the fuel price hike.
Petroleum marketers are not without blame. They have deliberately contributed to the rise in fuel prices through dubious practices. To date, some private depot owners have failed to reduce their ex-depot price. Some independent marketers still vend fuel between N190 and N200 per litre. The relevant authorities should engage these depot owners to revert their prices. And as critical stakeholders in the economy, they must be availed of foreign exchange at the official rate.
IPMAN has to back the Federal Government’s efforts to eliminate corruption in the downstream sector. Corruption by some government officials and insufficient supply of the products by the government agencies are some challenges of appropriate pricing and distribution. NNPC is not helping matters because the product is always not available, compelling the marketers to rely solely on private depots who sometimes sell higher than the official prices.
We are genuinely concerned about the deception and duplicity associated with the politics of petroleum pricing by successive Nigerian governments. The perennial upward review in the pump price of fuel is a transfer of the government’s failure and inability to effectively govern to the poor masses. Lamentably, Nigeria is the only member of the Organisation of Petroleum Exporting Countries (OPEC) that cannot refine its crude oil.
Between 2012 and now, about $9.5 billion has been spent on Turn Around Maintenance (TAM), Greenfield Refinery Projects and even public investments in private refineries. The tragedy is that despite these humungous investments of public funds, the government continues to present the crisis of mass importation of refined petroleum products into the country and the consequent import-based pricing regime of the products as an accomplished fact.
Nigerians cannot bear another hike in the pump price of PMS. As an alternative, the system should shed the weight of wastage, imbibe transparency, make the daily energy requirements of Nigerians available and at an affordable cost. The quick rehabilitation of the existing refineries and the building of additional ones are imperative. A government that cannot clip the wings of sharp practices, reduce wastage and sleaze in the oil sector has no business remaining in power.

Editorial

Task Before New IGP

Published

12 hours ago

April 2, 2026

The Tide

The appointment of Olatunji Disu as Inspector-General of Police following the resignation of Kayode Egbetokun marks a significant turning point for the Nigeria Police Force. Announced by President Bola Tinubu, the change in leadership comes at a time when the country is grappling with serious security concerns. Disu’s emergence has already drawn national attention, given both the urgency of the situation and the expectations placed upon him.

Upon confirmation of his appointment, Disu pledged to justify the confidence reposed in him. Central to his promise is a firm commitment to end impunity and enforce a zero-tolerance policy towards corruption within the force. Such assurances, though commendable, will ultimately be judged by the practical steps he takes in the coming months.

The new IGP also emphasised the importance of public cooperation in effective policing. He rightly noted that no police force anywhere in the world can succeed without the support of the people it serves. This acknowledgement highlights the critical relationship between law enforcement and the community, a relationship that has long been strained in Nigeria.

While congratulating Disu on his elevation, it is important to recognise the enormity of the task before him. He assumes office at a particularly difficult time, as underscored by the President during the decoration ceremony. Nigeria’s security landscape remains fragile, requiring decisive leadership and immediate action.

President Tinubu described the appointment as coming at a defining moment for national security. He urged the new police chief to restore public confidence and improve the institution he now leads. The expectation is not merely to maintain the status quo, but to leave the force better than he met it.

The security challenges confronting the nation are considerable. From banditry and terrorism to organised crime and communal conflicts, the threats are diverse and deeply entrenched. These issues have not only endangered lives and property but have also heightened public anxiety across the country.

Ironically, the police, who are meant to be at the forefront of restoring law and order, are themselves beset by internal challenges. Issues such as poor welfare, inadequate training, and systemic corruption have weakened the institution’s effectiveness. This dual burden makes Disu’s assignment even more complex.

A key priority for the new IGP must, therefore, be to restore peace and rebuild confidence, both within the force and among the general public. For many Nigerians, the police are no longer seen as protectors but as adversaries. This perception, whether wholly justified or not, must be urgently addressed.

Cleaning up the force and restoring its credibility will require more than rhetoric. Disu has already made the necessary commitments, but Nigerians will expect tangible results. Institutional reform must be thorough, transparent, and sustained if it is to yield meaningful change.

Equally important is the welfare of police personnel. Many officers operate under extremely poor conditions, with inadequate facilities and insufficient resources. Numerous police stations across the country are in a deplorable state, lacking basic equipment needed for effective policing.

No organisation can function optimally under such circumstances. If the police are to fulfil their constitutional mandate, they must be properly equipped and motivated. Addressing issues of welfare and infrastructure will go a long way in boosting morale and enhancing performance.

The list of challenges before the new police chief is extensive. From modernising equipment to improving training and discipline, the reforms required are wide-ranging. It is hoped that Disu will take the time to carefully assess these issues and implement practical solutions.

His appointment also comes amid growing calls for the establishment of state police. There is now a broad national consensus that the current centralised policing system is inadequate for addressing local security challenges. This debate has brought renewed attention to constitutional provisions governing policing in Nigeria.

While concerns about the potential pitfalls of state policing remain, its advantages appear increasingly compelling. Managing this transition, if it materialises, will be another critical responsibility for Disu. Ultimately, he assumes office with considerable goodwill, but his success will depend on his ability to translate promises into measurable improvements.

The success or failure of Olatunji Disu will be measured not by promises made but by results achieved. Nigerians yearn for a police force that is professional, accountable, and truly committed to their safety. If Disu can rise to this moment, confront entrenched challenges with courage, and drive meaningful reform, he will not only justify his appointment but also leave a lasting legacy in the annals of policing in Nigeria.

Editorial

Nigeria: Cushioning Effects Of M’East Crisis

Published

3 days ago

March 30, 2026

The Tide

The ongoing crisis in the Middle East between the United States and Israel on one hand and Iran on the other has once again unsettled global stability, with escalating tensions disrupting oil production routes and threatening key supply chains. Conflicts involving major oil-producing nations and strategic waterways have created uncertainty in the international energy market. As history has repeatedly shown, instability in this region often sends shockwaves across the global economy, particularly in energy-dependent countries.

One of the most immediate consequences of this war has been a sharp rise in global crude oil prices. Brent Crude has surged between $105 and $110 per barrel in recent weeks, reflecting fears of supply shortages. This increase has translated into higher fuel costs worldwide, placing immense pressure on both developed and developing economies.

Nigeria, despite being a major crude oil producer, has not been spared. The country’s heavy reliance on imported refined petroleum products has meant that global price increases directly affect domestic fuel costs. Rather than benefiting fully from higher crude prices, Nigerians are grappling with the paradox of rising oil wealth alongside worsening living conditions.

The impact on the cost of living has been severe. Transportation fares across major cities have increased by over 50 per cent, while food inflation has climbed above 30 per cent, according to recent data from the National Bureau of Statistics (NBS). The ripple effect of higher fuel prices has touched every sector, from agriculture to manufacturing, making basic goods increasingly unaffordable for ordinary citizens.

In response to this growing hardship, the Nigeria Labour Congress (NLC) has demanded urgent intervention from the Federal Government to cushion the effects of the recent spike in petrol prices occasioned by the Middle East crisis. The call reflects widespread frustration among workers and the broader population.

The NLC made this demand in a statement titled “Save Nigerians From This Shock: An Urgent Relief Has Become Necessary,” signed by its President, Joe Ajaero. The statement underscores the urgency of the situation and highlights the growing disconnect between government policy and the lived realities of citizens.

We strongly support the NLC’s clarion call and urge the administration of President Bola Tinubu to take immediate and decisive steps to cushion the harsh effects of the crisis on Nigerians. Leadership at this critical moment requires bold, people-centred policies that prioritise national welfare over market orthodoxy.

One such step is the reintroduction of a fuel subsidy, funded by the gains from the current surge in global crude oil prices. The government could choose to subsidise either the finished petroleum products or the crude supplied to local refiners. Providing crude at reduced rates to Aliko Dangote refinery would significantly lower the final pump price for consumers.

This brings into focus the role of Dangote, whose refinery has the potential to transform Nigeria’s energy landscape. Dangote has stated that the Federal Government currently supplies only 30 per cent of the crude required for his refinery, compelling him to import the remaining 70 per cent. For a country that produces millions of barrels daily, this situation is both inefficient and unacceptable.

Beyond fuel pricing, there is a pressing need for direct support to workers. A cost-of-living allowance, a wage award, and targeted tax relief measures would provide immediate relief. At the same time, the government must take concrete steps to revive Nigeria’s dormant public refineries, which have long been a drain on public resources without delivering value.

The sharp rise in fuel prices, now selling at approximately N1,310 to N1,400 per litre in many parts of the country, has deepened economic hardship. For millions of Nigerians, daily survival has become a struggle. Without urgent intervention, the nation risks severe social unrest, as frustration continues to mount among the populace.

It is deeply troubling that the Federal Government appears to have left Nigerians at the mercy of volatile global oil prices triggered by the Middle East imbroglio. This situation has exposed the fragility of the downstream petroleum sector and highlighted the failure to build resilience despite decades of oil wealth.

As long as Nigeria remains tied to a market-driven pricing structure dictated by global fluctuations and continues to neglect its domestic refining capacity, it will remain vulnerable to external shocks. International conflicts and speculative market forces will continue to dictate the economic fate of Nigerian households.

Nigerian workers are being pauperised and subjected to immense suffering. They are not mere statistics; they are the engine of the nation’s economy. When that engine overheats, the entire system risks collapse. Ignoring their plight is not just unjust—it is economically reckless.

Finally, the estimated N30 trillion oil windfall expected from the current crisis must not be squandered as in the past. These resources should be transparently managed and invested in social protection programmes, infrastructure, and economic stabilisation. In addition, Nigeria must develop robust crude storage systems, as seen in other countries, to cushion future shocks. Failure to properly manage the energy situation could further accelerate inflation, compounding the already substantial burden on citizens.

Editorial

Thumbs Up For Sit-At-Home Reversal

Published

1 week ago

March 23, 2026

The Tide

For the first time in over five years, the bustling markets of Anambra State, particularly the sprawling Onitsha Main Market, opened for business on February 2, 2026, without the fear of coercion or violence. This development marks the definitive end of the illegal Monday sit-at-home order that has held the South-East region hostage since 2021. Governor Chukwuma Soludo has achieved what many thought impossible, finally laying to rest an obnoxious practice that has bled the region dry economically and psychologically.

The Monday sit-at-home order was first declared by the Indigenous People of Biafra (IPOB) on July 30, 2021. The proscribed organisation imposed the directive to pressure the Federal Government into releasing their detained leader, Nnamdi Kanu, and to advance their demand for the creation of an independent sovereign state of Biafra. What began as a protest mechanism quickly degenerated into a compulsory lockdown enforced through intimidation and violence.

For more than four years, the South-East had been crippled every Monday. Schools remained shut, businesses pulled down their shutters, and economic activity ground to a halt across the five states of Anambra, Abia, Enugu, Ebonyi, and Imo. Governor Soludo recently quantified the devastation, noting that every Monday lost represented about 20 per cent of the work week for the region’s informal economy. When calculated over 52 weeks annually for several years, the cumulative losses are truly staggering.

The economic cost to the region has been nothing short of catastrophic. Investors fled, businesses relocated to other parts of the country, and the South-East lost its competitive edge as West Africa’s premier commercial hub. The Onitsha Main Market, reputedly the largest market in West Africa, sat empty every Monday. Thousands of traders lost 52 working days every year, children missed countless hours of education, and families saw their incomes dwindle. The opportunity cost of this self-imposed isolation runs into hundreds of billions of naira.

Professor Soludo demonstrated exceptional leadership by taking the bull by the horns. His administration ordered the closure of the Onitsha Main Market for one week, sending a clear message that the era of economic sabotage was over. Following this decisive action, he engaged in meaningful dialogue with traders and stakeholders, reaching a consensus that markets must operate on Mondays like every other day of the week.

The results of this courageous stance are now visible for all to see. Over 45,000 shops at the Onitsha Main Market reopened for business, and traders turned out in their tens of thousands, jubilant that they could finally resume their livelihoods without fear. The atmosphere was reportedly electric, with over 100,000 people celebrating what many described as a liberation from years of economic captivity imposed by faceless enforcers.

Soludo deserves the highest commendation for confronting this age-long practice that isolated the South-East from the rest of Nigeria. It takes uncommon courage and determination to challenge an entrenched system enforced through fear and violence.

It is senseless for any group to impose such hardship on the very people it claims to be fighting to liberate. Perhaps IPOB thought they were punishing the Federal Government by shutting down the South-East every Monday. Little did they realise that they were inflicting the deepest wounds on their own people. The traders, the schoolchildren, the transporters, and the ordinary workers who lost income and opportunities were all Igbos, the very constituency IPOB professes to protect.

Can it be imagined what it takes to shut down an entire geopolitical zone every Monday for over four years? The mathematics of loss is simple but devastating: 52 Mondays annually means 52 lost working days per year. For a region built on commerce and entrepreneurship, this represented a self-inflicted wound that no external enemy could have achieved. The South-East was effectively closed for business one day every week while the rest of Nigeria moved forward.

Thankfully, IPOB has now officially endorsed the cancellation of the sit-at-home order once and for all. In a statement released, the group announced that Nnamdi Kanu had directed the “total cancellation” of the directive, urging residents to open their shops, go to work, and send their children to school without fear. This is a welcome development, though we must approach it with cautious optimism, as this is not the first time such announcements have been made.

Previous attempts to end the practice were frustrated by the activities of one Simon Ekpa, a self-styled disciple of the IPOB leader based in Finland. Whenever IPOB issued statements calling for a cessation of the sit-at-home, Ekpa would counter with orders for its continuation, creating confusion and perpetuating the cycle of fear. Now that Ekpa has been convicted and jailed in Finland for inciting terrorism and tax fraud, we hope there will be no further excuses to continue this damaging observance.

With the definitive end of the sit-at-home order, people in the South-East, as well as Nigerians travelling through the region, can finally heave a sigh of relief. The order caused immense apprehension for travellers who had to pass through the South-East to reach other parts of the country. Major highways were deserted on Mondays, creating security vulnerabilities and disrupting the flow of commerce and movement across the nation. This created countless problems for families, businesses, and national cohesion.

Now that this painful chapter has come to an end, we urge the proscribed IPOB not to renege on their decision. The South-East people, who were the greatest victims of this infamous order, can now return to doing what they do best: business. The resilience of the Igbo entrepreneur is legendary, and given the opportunity, the region will bounce back stronger than ever. However, this requires that the peace holds and the markets remain open every Monday without exception.

We urge everyone in the region—business owners, market leaders, transporters, stakeholders, and ordinary citizens—to cooperate fully to ensure that this new development is sustained. The government at all levels must also begin to address the underlying issues that led to this ugly incident. We cannot run away from the fact that there is a genuine feeling of marginalisation and oppression in the South-East that the Federal Government needs to look into.

Undoubtedly, Governor Soludo’s action has impacted positively on Anambra State and the entire region. It is a huge plus for the state’s economy, the security architecture of the South-East, and the confidence of investors who had written off the region as too risky for business. By restoring normalcy to Mondays, Soludo has given the people back their most valuable asset: the freedom to earn a living without fear. This is leadership, and this is progress.