NEWS
Fuel Pricing Should Serve Public Interest, Not Profit — Yemi Adeoye
Energy policy analyst, Adeyemi Adeoye has opined that fuel pricing in Nigeria should prioritize public interest over profit.
His assertion was meant to address pricing issues associated with the Dangote Refinery’s readiness to be supplying Premium Motor Spirit (PMS), also known as petrol to the domestic market.
Recall that the President of Dangote Group, Alhaji Aliko Dangote had passed the pricing ball to President Bola Ahmed Tinubu and the Federal Executive Council (FEC), via the Nigerian National Petroleum Corporation Limited (NNPC Ltd).
Adeoye made the comments during an appearance on Channels TV’S Politics Today, which was monitored by our correspondence on Tuesday.
Related news: Finally, Dangote Refinery’s First Petrol Batch Hits The Market
Adeoye argued that the government must approach pricing and supply strategically, stressing the interconnectedness of economic stability and national security.
He said, “An energy crisis is a national security crisis in my view. In spite of all these issues and controversies — which is, of course, unfortunate for something of this magnitude and positive impact to develop such controversies — we have reached this point, and I think congratulations are in order.
“Having said that, with regard to pricing and supply, the government must be very intentional. When we talk about national security, we often forget the importance of economic security, as they go hand in hand. If there is an economic crisis, it will impact national security in a matter of minutes.”
He pointed out that Nigeria’s petroleum market was not yet as deregulated as those in the United States or Europe, necessitating ongoing government involvement.
He said, “NNPC and the government need to sit down with the operators of the Dangote Refinery and intentionally determine pricing in the interest of national security, given that Nigeria is not yet a free market like the USA or Europe. Nigeria has not gotten to that level yet, so government intervention, especially when it comes to petroleum products is still very important.
Addressing the urgency of the situation, Adeoye warned that prolonged fuel scarcity could lead to public unrest.
He emphasized “My take is, away from all the controversies, away from all the back and forth, Nigeria Government needs petrol on the street, they need petrol across the country otherwise there could be chaos, there could be issues because this is a country that is already stressed up in terms of the economic situation. We just came out of a nationwide protest and we shouldn’t be going into another one any time soon.”
Adeoye underscored the pivotal role of the NNPC Ltd, the country’s sole importer of petroleum products, in managing the supply chain effectively.
He added, “If the focus, the goal and the purpose is the Nigerian people, and is to ensure that the Nigerian people are able to get petrol whenever they need it at the most friendly price, then these controversies will not be much.”
As part of efforts to curb kidnapping in Edo State, the State Government, security operatives stormed a major hideout used by kidnapper in Esan North-East Local Government Area, Edo Central Senatorial District.
The action was led by the Task Force against Kidnapping, according to a government house statement in Benin City transpired on Friday.
It was gathered that the Task Force during the operation cleared abandoned structures and thick bushes along the Uzea-Itakpe railway corridor in used by kidnappers.
It added that the exercise was aimed at eliminating criminal hideouts, with a view to improving visibility for enhanced security surveillance.
ALSO READ: Woman Jumps Into Lagos Lagoon, Recovered Dead
The Special Adviser to the Governor on Security, Akhere Paul described the area as a notorious transit point for kidnappers operating along the railway axis, Esan forests, and parts of Etsako West.
He explained that criminals used the abandoned structures as temporary holding camps for their victims before relocating them.
“If they kidnap people here, they bring them to this hideout, rest, and then move them to other locations, including Itakpe in Kogi State and Ama Community in Etsako West. This area has been a hotspot for kidnappings, affecting both the wealthy and poor, including farmers who use this route. As a government, we will not rest until kidnapping is eradicated in Edo State,” he stated.
The Commander of the Task Force, SP Michael Anetor, emphasized that intelligence reports and recent arrests informed the demolition exercise.
“The DPO covering this area and the local government authorities have investigated, and our findings confirm that this location is a strategic point for kidnappers. They ambush victims, and if moving them immediately is not feasible, they hold them here before proceeding. These abandoned houses and dense trees serve as their operational base,” Anetor explained.
He further assured residents that security agencies would sustain their crackdown on criminal elements to restore safety in the area.
Citing some residents who preferred to remain anonymous, the statement added that the abandoned structures and overgrown vegetation had long served as hideouts for criminals, allowing them to monitor potential victims before launching attacks.
Tragedy struck on Thursday as an unidentified woman plunged into the Lagos Lagoon from the Third Mainland Bridge near the University of Lagos (UNILAG) waterfront.
Despite prompt efforts by marine police officers stationed nearby, she was recovered lifeless.
Eyewitnesses said the incident occurred around 4 p.m., prompting an immediate response from the marine police unit.
READ ALSO: Dismissed Edo Policewoman Threatens Suicide With Children
However, despite their swift intervention, the woman was confirmed dead by UNILAG medical personnel upon arrival.
Confirming the incident, Lagos State Police Command spokesman Benjamin Hundeyin provided details of the recovery operation.
“Today, March 13, 2025, at about 1600 hours, an unidentified woman reportedly jumped from the Third Mainland Bridge into the water near the UNILAG waterfront at approximately 1500 hours.
“She was recovered at the University of Lagos shore slipway by a team of marine police officers stationed in the area. Despite their efforts, she was confirmed dead by a team of UNILAG medical doctors in the presence of officers from the Sabo Police Division.”
He further disclosed that the body had been moved to the Infectious Disease Hospital (IDH) Mortuary in Yaba for preservation.
Although the motive behind the incident remains unclear, some witnesses suspected suicide. The authorities have yet to establish any conclusive reasons for the tragic act.
Nigeria’s President, Bola Ahmed Tinubu has articulated the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.
This view was shared in a statehouse statement on Thursday, in Abuja by the Special Adviser to the President, (Information & Strategy), Bayo Onanuga.
He declared thus, “For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future.”
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President Tinubu was receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West, when he bared his mind.
He highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:
“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” he added.
President Tinubu made it clear that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.
“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
He said firm adherence to democratic tenets is the best route to economic, social, and political development.
“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.
“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”
Senator Emmanuel Chiedoziem Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.
“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.
“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” he said.
Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa.
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