The Federal Government has officially scheduled July 23 and 24, 2025, for a national stakeholder forum to tackle growing concerns surrounding petrol pricing, supply chain stability, and the future of Nigeria’s deregulated downstream sector. The much-anticipated summit, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), will gather refiners, marketers, regulators, and industry stakeholders to establish practical solutions around pricing standards, feedstock supply, and market predictability.
Speaking at the recently concluded 24th Nigeria Oil and Gas Energy Week in Abuja, Francis Ogaree, Executive Director at NMDPRA, confirmed the summit dates and stressed the urgent need to build a resilient and transparent pricing system in the post-subsidy era.
The move comes amid intensifying agitation from petroleum marketers and associations over sudden price changes—especially after unannounced reductions by the Dangote Refinery. Marketers argue that such fluctuations expose retailers to massive losses, especially those who purchased fuel at higher rates.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has consistently called for stable pricing mechanisms, greater transparency, and protection of investments. He warns that erratic pricing could hurt the industry and consumers alike.
Meanwhile, PENGASSAN has accused petrol marketers of exploiting Nigerians, insisting that pump prices should range between ₦700 and ₦750 per litre to maintain fairness.
Responding to the issues, Ogaree stated that the NMDPRA is actively working to standardise pricing and encourage investments in local refining. He revealed that Nigeria now boasts 10 operational and near-operational refineries, including NNPC’s three refineries, the 650,000bpd Dangote Refinery, and six modular refineries.
However, Ogaree expressed concern over crude oil feedstock availability, stressing that Nigeria must ramp up production to meet future refining demands as 47 licenses have been issued to prospective refiners.
The July forum aims to allay fears, set clear petroleum pricing standards, and chart a path toward a more efficient and competitive downstream sector.
