The Federal Government has scheduled July 23 and 24, 2025, for a national stakeholders’ forum aimed at addressing rising concerns over petrol pricing and supply in Nigeria’s deregulated downstream sector.
Organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the summit will gather industry operators, marketers, refiners, and government officials to deliberate on pricing standards, feedstock supply, and strategies for stabilising the market.
Confirming the dates at the just-concluded Nigeria Oil and Gas Energy Week in Abuja, the Executive Director of Hydrocarbon Processing Plants, Installation and Transportation Infrastructure at NMDPRA, Francis Ogaree, said the forum would help develop a resilient pricing system in the post-subsidy era.
Petrol marketers have repeatedly raised concerns over price volatility, especially regarding sudden price changes by the Dangote refinery without prior notice. The President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, has called for transparency and fair pricing to prevent losses for retailers and ensure energy security.
Last month, the Petroleum and Natural Gas Senior Staff Association of Nigeria also raised concerns over inflated pump prices, arguing that petrol should be sold between N700 and N750 per litre.
Responding, Ogaree noted that the NMDPRA was aware of the operational uncertainties confronting market players and had begun steps to standardise pricing while encouraging investments in local refining.
“At the latter part of this month, on July 23 and 24, we will be hosting a two-day event to address petrol pricing issues and put standards in place. Pricing is sensitive and differs across countries, but the authority is working to address these concerns,” Ogaree said during a panel session titled, “Building a Resilient and Competitive Refining Sector.”
On the refining outlook, Ogaree disclosed that Nigeria currently has 10 operational and near-operational refineries, including the three NNPC refineries, the 650,000 barrels-per-day Dangote refinery, and six modular refineries, with some new plants expected to begin operations by 2026.
He noted that while Nigeria’s refining capacity is expanding, the success of the downstream market will depend on the availability of crude oil feedstock to meet rising demand from licensed refiners.
“We have issued 47 licenses, and as these refineries come on stream, we must ensure adequate crude supply to meet their needs,” Ogaree stated.
