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Petroleum Subsidy Difficult To End-MOMAN

The Major Oil Marketers Association of Nigeria (MOMAN) says ending subsidy on Premium Motor Spirit (PMS) is extremely difficult but the Federal Government has no other option in the light of current economic realities.
MOMAN also called for massive investment by the government in various sectors such as mass transportation, healthcare and education to successfully wean off Nigerians from petrol subsidy.
A statement posted on MOMAN’s website on Friday said its Chairman, Mr Olumide Adeosun, MOMAN, made this known at the just-concluded Association of Energy Correspondents of Nigeria (NAEC) Strategic International Conference in Lagos.
Adeosun spoke on the topic: “Energy Transition, PIA, Petroleum Pricing and the Way Forward for the Downstream Sector.”
Represented by Mr Clement Isong, the Chief Executive Officer, MOMAN, Adeosun said it would remain extremely difficult to wean Nigerians off cheap PMS, also known as petrol.
“It is something that must be done as there are no more viable options. We are told that this year the subsidy bill to the Federal Government may be between N5 trillion and N6 trillion. Clearly, Nigeria cannot afford this.
“To wean Nigeria of this subsidy, a lot of investment must be done to sensitise Nigerians in convincing them and finding alternatives.
“We need to begin to remove the subsidy and mitigate the pains Nigerians will feel when petroleum prices begin to manifest their true value”, he said.
Adeosun said marketers were optimistic that the industry was headed in the right direction with the enactment of the Petroleum Industry Act (PIA) 2021 which was an excellent piece of legislation.
“We are now at the point of implementation, which is taking a bit longer than hoped but this is not necessarily a bad thing.
The President postponed the implementation of free market pricing, which has caused a slowdown with respect to benefits expected from free competitive open market pricing, such as new investments and subsidy removal, “ he said.
Adeosun said the marketers were also convinced that (the decade of gas declared by the Federal Government in January 2021) was clearly the way forward.
He said, however, the increase in gas prices worldwide and the unavailability of the product had made it a little more difficult in the roll out.
Adeosun said: “The ordinary Nigerian who was meant to transit to gas not just for cooking but also for powering automobiles and power generation is struggling and because PMS pricing is yet to be fully deregulated.
“It creates an aberration and additional challenge for the adoption of gas, as most people are still dependent on cheap PMS for their cars and generators”, he said.
According to him, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has an important role to play in guiding our future, the best regulator ultimately is the market.
“The market regulates prices if you are too expensive people would not buy from you. The market regulates quality as well as customer service. The market also rewards the best in class.
“We need to move to an era of transparency and information dissemination.
“Energy correspondents need to share as much information as possible with the market and public with respect to cost prices, quality, product specifications, customer service and pump prices.
“That is the best regulation you can ask for,” Adeosun said.
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RSG Commits To Workers’ Welfare …. Calls For Sustained Govt, Labour Partnership

The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, has assured the commitment of Rivers State government to workers’s welfare and industrial harmony in Rivers State.
The Sole Administrator gave the assurance after meeting with leadership of organized labour unions at the Government House, Port Harcourt on Wednesday.
Ibas reaffirmed government’s policy of prompt payment of salaries and pensions to workers and retirees, stating that all local government employees are not receiving the approved minimum wage.
He disclosed that approval has been given for payment of newly employed staff at Rivers State University Teaching Hospital and the Judiciary, while medical workers in Local Government Areas will now receive correct wages.
Ibas explained that, Government is reviewing implementation challenges of the Contributory Pension Scheme ahead of the July 2025 deadline, adding that Intervention buses have been reintroduced to ease workers’ transportation ,with plans to expand the fleet.
He said specialized leadership training for top civil servants will commence within two weeks, while due consideration is being given to implementing the N32,000 consequential adjustment for pensioners and clearing outstanding gratuities.
Ibas commended Rivers State workers for their dedication to service and called for sustained partnership with labour unions to maintain industrial peace.
“This administration recognizes workers as critical partners in development. We remain committed to addressing your legitimate concerns within available resources,” he stated.
The State NLC Chairman, Comrade Alex Agwanwor, thanked the Administrator for the steps taken so far with regard to workers welfare while appreciating his disposition towards alleviating the transportation problem faced by workers.
He also expressed appreciation for the government’s openness to dialogue and pledged continued cooperation towards achieving mutual goals.
The Rivers State Government assured all workers of its unwavering commitment to their welfare and called for continued dedication to service delivery for the collective progress of our dear State.
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Labour Unions In Rivers Call For Improved Standard Living For Workers

The Nigeria Labour Congress (NLC), Rivers Council, has called for policies that will improve the economic situation of the country in order to ensure enhanced living standard for workers.
The State Chairman, Mr Alex Agwanwor, made the remark on behalf of the unions affiliated to Labour Congress during the 2025 workers day celebration in Port Harcourt, yesterday.
Agwanwor highlighted the demands of the Unions which included the immediate payment of pension arrears, implementation of the N32,000 minimum wage for pensioners, and payment of gratuities and death benefits without further delay.
“We are calling for the regulation and protection of e-hailing drivers, implementation of increments and promotions, and resolution of long-standing issues in the polytechnic sector,” he said.
Agwanwor on behalf of the unions appealed to President Bola Tinubu to reinstate the democratically elected Governor, Deputy Governor, and members of the Rivers State House of Assembly.
He stressed the importance of democratic governance and good working relationship with elected representatives.
According to him, the unions expressed disappointment over the imposition of taxes, increase in electricity tariff, and high cost of goods and services, which have further worsened the plight of workers.
“We urge the federal government to take measures to alleviate the suffering of citizens,” he said.
Featured
Tinubu committed to unlocking Nigeria’s potential – Shettima

Vice-President Kashim Shettima says President Bola Tinubu is committed to unlocking Nigeria’s full potential and position the country as a leading force on the African continent.
Shettima stated this when he hosted a delegation from the Hertie School of Governance, Berlin, led by its Senior Fellow, Dr Rolf Alter, at the Presidential Villa in Abuja last Wednesday.
He said Nigeria was actively seeking expertise from the global best institutions to enhance policy formulation and implementation, particularly in human capital development.
The Vice-President noted that President Tinubu was determined to elevate Nigeria to its rightful position as a leading force in Africa.
“The current crop of leadership in Nigeria under President Bola Ahmed Tinubu is ready and willing to unleash the full potential of the Nigerian nation on the African continent.
” We are laying the groundwork through strategic reforms, and at the heart of it, is human capital development.”
He described the Hertie School as a valuable partner in the journey.
According to him, Hertie School of Governance, Berlin, has track record and institutional knowledge to add value to our policy formulation and delivery, especially in this disruptive age.
Shettima reiterated the government’s priority on upskilling Nigerians, saying ” skills are very important, and with our Human Capital Development (HCD) 2.0 programme.
“We are in a position to unleash the full potential of the Nigerian people by enhancing their capital skills.”
The Vice-President acknowledged the vital support of international development partners in that effort.
” I want to thank the World Bank, the European Union, the Bill and Melinda Gates Foundation, and all our partners in that drive to add value to the Nigerian nation,” he maintained.
The Vice-President said human capital development was both an economic imperative and a social necessity.
Shettima assured the delegation of the government’s readiness to deepen cooperation.
” We need the skills and the capacity from your school. The world is now knowledge-driven.
“I wish to implore you to have a very warm and robust partnership with the government and people of Nigeria.”
Shettima further explained recent economic decisions of the government, including fuel subsidy removal and foreign exchange reforms.
“The removal of fuel subsidy, the unification of the exchange rate regime and the revolution in the energy sector are all painful processes, but at the end of the day, the Nigerian people will laugh last.
“President Tinubu is a very modern leader who is willing to take far-reaching, courageous decisions to reposition the Nigerian economy,” he added.
Earlier, Alter, congratulated the Tinubu administration for the successful launch and implementation of the Human Capital Development (HCD) strategy.
The group leader described the development as ambitious and targeted towards the improvement of the lives of the citizens.
He expressed satisfaction with the outcome of his engagements since arriving in the country.
He applauded the zeal, commitment, energy and goodwill observed among stakeholders in the implementation of Nigeria’s HCD programme.
Alter said the Hertie School of Governance would work closely with authorities in Nigeria across different levels to deliver programmes specifically designed to address the unique needs of the country.
He, however, stressed the need for government officials at different levels to be agile and amenable to the dynamics of the evolving world, particularly as Nigeria attempted to successfully accelerate its human capital development aspirations.
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