NEWS
Bring Global Realities Home – PETROAN
A call has gone to the stakeholders in Nigeria’s oil and gas sector to reduce their ex-depot and retail pump prices in line with the current global realities.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), hinged the call on dousing of war flames between the United States and Iran.
According to the National President of PETROAN, Billy Gillis-Harry, the drop in global crude oil prices offers an opportunity for operators in the downstream petroleum sector to pass on the benefits of lower crude costs to consumers.
This was detailed in a statement issued under the signature of the National Public Relations Officer of PETROAN, Dr Joseph Obele, on Friday, in which Gillis-Harry expressed desire to see market realities reflected in both ex-depot and retail pump prices.
“The recent decline in global crude oil prices presents an opportunity for stakeholders in the downstream petroleum sector to pass the benefits of lower crude oil costs to Nigerian consumers. Market realities should be reflected in both ex-depot and retail pump prices in the interest of fairness and economic relief for the public,” Gillis-Harry said.
According to the association, recent developments in the global oil market indicate that crude oil prices are on a downward trend, with Brent crude falling to about $77–$78 per barrel following the ceasefire agreement between the United States and Iran and expectations that oil exports through the Strait of Hormuz will gradually normalise.
The PETROAN noted that market analysts believe crude oil prices are currently under downward pressure, although geopolitical risks remain. The association said current projections suggest that Brent crude may trade within the range of $75–$82 per barrel next week, while West Texas Intermediate crude is expected to trade between $72 and $79 per barrel.
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It identified the continued implementation of the US-Iran peace agreement, increased crude oil exports from the Middle East and concerns over weaker global oil demand as factors contributing to the decline in crude prices.
Showing concern over pricing trends in the domestic market, Gillis-Harry said, “In some instances, the landing cost of imported petroleum products appears to be lower than the prices offered by domestic refiners. This development is surprising and underscores the need for a more competitive downstream petroleum market that guarantees consumers access to the most affordable products available.”
The PETROAN president called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (MNDPRA) to continue issuing import licences to qualified marketers, saying increased competition would help moderate prices and ensure adequate supply.
“Increased competition among suppliers would help moderate prices, discourage monopolistic tendencies, and ensure a steady supply of petroleum products across the country,” the statement read.
Gillis-Harry maintained that competition remained one of the most effective ways of driving efficiency and reducing costs. “Competition remains one of the most effective mechanisms for driving efficiency, reducing costs, and protecting consumers,” he stated.
He added that a competitive market environment would encourage operators to reduce prices in line with prevailing market conditions. PETROAN also called on the Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, to facilitate discussions with two Chinese firms interested in operating the Port Harcourt and Warri refineries.
Gillis-Harry said, “If these refineries are successfully revived and operated as private-sector-driven facilities, petroleum product prices are expected to decline further due to improved efficiency and increased domestic refining capacity.
“The resumption of operations at the Port Harcourt and Warri refineries under competent private management would enhance supply stability, promote healthy competition, and ultimately lead to more affordable petroleum products for Nigerians.”
The association stated that sustained moderation in crude oil prices, combined with stable exchange rates and refining costs, should support lower petrol prices and provide relief for consumers and businesses.
Gillis-Harry reiterated PETROAN’s commitment to a competitive downstream petroleum sector, saying the association would continue advocating “for a transparent, competitive, and consumer-friendly downstream petroleum sector that delivers fair pricing, energy security, and sustainable economic growth for all Nigerians”.
The Presidency has highlighted major development projects across Nigeria’s North Central region under President Bola Tinubu’s Renewed Hope Agenda, covering eight key sectors, including road infrastructure, power, agriculture, education, aviation and security.
Sunday Dare, Special Adviser to the President on Media and Public Communication and Presidential Spokesperson, disclosed this on Sunday, November 15, 2026, in a post on his X account.
According to Dare, the projects are designed to improve regional connectivity, expand economic opportunities, strengthen food security and promote development across communities in the region.
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He highlighted interventions spanning major road construction, renewable energy, agricultural support, educational development, security infrastructure and empowerment programmes.
In the road infrastructure sector, the listed projects include the Mararaban Jama’a–Pankshin–Langtang–Shendam–River Ibi corridor dual carriageway, Phase II rehabilitation of the Babban-Lamba–Sharan Road and construction of the Akwanga–Jos–Bauchi–Gombe–Biu–Maiduguri Superhighway.
Others include the construction of the 600-metre Akwanga Underpass, completion of the Lafia Bypass, reconstruction of the Bali–Serti–Gembu Road and construction of the Gembu–Mbamnga–Yang Road, which commenced in early 2025. Improvement works are also listed along the Jalingo–Wukari corridor.
In the aviation sector, the government highlighted approval for the construction of an airstrip on the Mambilla Plateau.
The power and renewable energy initiatives include a 40-megawatt hydropower plant at the Kashimbila Multipurpose Dam, expected to supply electricity to the national grid, as well as irrigation channels to support year-round farming.
Other interventions include the deployment of solar-powered mini-grids, installation of solar streetlights and provision of solar home systems to households.
On agriculture and food security, the Renewed Hope Agricultural Support Programme is expected to provide farmers with improved seedlings, fertiliser and agricultural training.
The list also includes support for hybrid potato farming, expansion of irrigated farmland through dam infrastructure and development of agricultural processing centres.
For women and youth empowerment, the initiatives include agricultural support for women and young farmers through the First Lady’s Renewed Hope Initiative.
Vocational skills development and certification for women, start-up grants for small businesses, market women empowerment through business training and start-up tools, as well as rural grants and skills development programmes, are also highlighted.
In education, the Federal Polytechnic Nasarawa is listed for transformation into the Federal University of Mining, Engineering and Technology, alongside expanded scholarship opportunities and improved access to higher education.
On security, the government outlined plans for the establishment of a new Army Division in Jalingo, Taraba State, alongside strengthened security deployment to protect farming communities and improve safety.
The eighth area focuses on regional development, with the North Central Development Commission identified as a long-term regional development initiative. Additional federal road projects are also expected to improve connectivity and support economic activities.
Dare’s disclosure highlights the administration’s focus on infrastructure expansion, agricultural productivity, energy access and human capital development as part of its Renewed Hope Agenda.
Vice President Kashim Shettima has departed Abuja for Jos, Plateau State, alongside his wife, Hajiya Nana Shettima, ahead of the All Progressives Congress (APC) presidential campaign rally in the state.
The visit is part of the Tinubu–Shettima campaign’s engagements as the ruling party seeks to secure support for President Bola Ahmed Tinubu and Vice President Shettima ahead of the 2027 general elections.
The campaign’s visit to Plateau is expected to highlight the Federal Government’s infrastructure and economic development projects in the state, particularly those aimed at improving road connectivity, boosting commerce and supporting agricultural activities.
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Among the projects highlighted by the administration is the ongoing 125-kilometre Akwanga–Jos highway, which forms part of the Akwanga–Bauchi–Gombe–Maiduguri Superhighway.
Other projects include the rehabilitation of the Sharram–Garram–Babban Lamba Road in Kanke and the approved Mararaban Jama’a–Kanke–Langtang–Shendam–Ibi Road, which is expected to improve connectivity between Plateau and Taraba states.
The administration says the projects are part of its broader development agenda to connect communities, facilitate access to markets and provide farmers and businesses with improved infrastructure.
The APC campaign is expected to use the rally to present the administration’s achievements and future plans while seeking the confidence of Plateau residents to continue its development agenda beyond 2027.
The Ogun State Police Command has presented cheques totalling ₦10.65 million to families and next-of-kin of deceased police officers who served under the command, as part of efforts to support dependants of personnel who died in active service.
The cheques, amounting to ₦10,658,391.36, were presented on Saturday, November 14, 2026, by the Commissioner of Police, CP Bode Ojajuni, on behalf of the Inspector-General of Police, IGP Olatunji Rilwan Disu.
The statement was signed by the Police Public Relations Officer of the Ogun State Command, DSP Oluseyi B. Babaseyi, anipr, and dated November 14, 2026.
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The presentation took place at the Command Headquarters in Eleweran, Abeokuta, under the Nigeria Police Force Group Life Assurance and the IGP Family Welfare Schemes.
The initiatives are designed to provide financial assistance to families of police officers who lost their lives while serving the country.
Accompanied by members of the Command Management Team, Ojajuni personally handed over the cheques to the beneficiaries.
Addressing the recipients, the police commissioner reaffirmed the Inspector-General’s commitment to the welfare of police personnel and their families.
He described the widows and families of the deceased officers as the “true superheroes”, acknowledging their resilience in coping with the loss of their loved ones who died in service to the nation.
Ojajuni noted that the financial intervention was a demonstration of the Force’s appreciation and institutional responsibility to support the families of fallen officers.
He said the initiative represented the Nigeria Police Force’s enduring commitment to standing by the dependants of personnel who paid the ultimate price in active service.
Responding on behalf of the beneficiaries, Mrs Ejembi Ada Veronica thanked the Inspector-General of Police and the Ogun State Police Command for remembering their families and providing financial assistance.
She assured the authorities that the money would be channelled towards the education, upkeep and general welfare of the children and dependants left behind by the deceased officers.
According to her, the intervention would provide timely relief and help improve the stability of the affected families.
The Ogun State Police Command reiterated its commitment to supporting the families of fallen officers, assuring them of its continued solidarity.
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