The Federal Government has scheduled a national stakeholders forum on petrol pricing for July 23 and 24, 2025. The summit aims to address growing concerns over fuel pricing and supply challenges in Nigeria’s downstream sector.
Organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the event will bring together key industry players including marketers, refiners and government officials to discuss petrol price standards, feedstock supply and strategies to stabilise the deregulated market.
Francis Ogaree, Executive Director at NMDPRA, confirmed the summit during the 24th Nigeria Oil and Gas Energy Week in Abuja. He noted that the forum will help tackle concerns raised by independent marketers about sudden price changes, especially those linked to the Dangote refinery.
Operators, including the Petroleum Products Retail Outlets Owners Association of Nigeria, have been advocating for price transparency and a stable market. The association’s president, Billy Gillis Harry, stressed the need for clear pricing structures to protect retailers and ensure energy security.
Similarly, the Petroleum and Natural Gas Senior Staff Association of Nigeria recently criticised the current petrol pricing system, accusing marketers of inflating prices. The union insists that pump prices should range between ₦700 and ₦750 per litre.
Ogaree said NMDPRA is aware of the sector’s challenges and is working to set fair standards and encourage investment in local refining. He also revealed that Nigeria now has 10 active and near operational refineries, including the three NNPC plants, the 650,000bpd Dangote refinery and six modular refineries.
He added that as more refineries prepare to go on stream by 2026, the country must ensure adequate crude oil supply to meet their needs. So far, 47 refining licenses have been issued and feedstock availability remains a key concern for the sector’s future growth.