The Federal Government has scheduled a national stakeholder forum for July 23 and 24, 2025, to address growing concerns over petrol pricing, supply dynamics, and the future of the deregulated downstream sector.
The summit, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), will convene key players — including marketers, refiners, and policymakers — to chart a path toward standardised pricing, ensure feedstock availability, and stabilise the fuel market in the post-subsidy era.
Confirming the date at the recent Nigeria Oil and Gas Energy Week in Abuja, Francis Ogaree, NMDPRA Executive Director (Hydrocarbon Processing Plants, Installation and Transportation Infrastructure), emphasised the need for dialogue to create a resilient and transparent pricing framework.
Petrol marketers have voiced frustration over sudden price shifts, particularly those linked to the Dangote refinery, and have demanded greater transparency to protect retailers who often buy stock at higher prices before adjustments.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), stressed the importance of price stability and clear mechanisms for managing fluctuations, warning that erratic pricing threatens energy security.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has similarly raised concerns, alleging that marketers are exploiting consumers and insisting that petrol pump prices should be between N700 and N750 per litre.
In response, Ogaree said the NMDPRA is committed to addressing these concerns and has made significant strides in licensing and regulatory oversight despite being only three and a half years old.
“Petrol pricing is sensitive and complex, but work is ongoing to establish clear standards. The upcoming summit will provide a platform to allay fears, promote stability, and set benchmarks for the sector,” Ogaree said during a panel on building a competitive refining sector.
On supply security, Ogaree noted that Nigeria now has 10 operational or near-operational refineries: the three NNPC facilities, the 650,000-barrels-per-day Dangote refinery, and six modular refineries.
He highlighted that meeting the feedstock demands of these refineries — and an additional 47 licensed facilities in various stages of development — will require boosting crude oil production.
“When these new refineries come on stream by 2026, we’ll need to significantly grow crude output to match their capacity needs, which could exceed 1.1 million barrels per day,” he said.
