Nigeria is gunning for more value through domestic refining, petrochemicals and associated industrial activities.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, stated this on Monday through his Technical Adviser on Regulation, Umar Gwandu, who represented him at the third Nigeria Oil Refining Summit (NORS) put together by the Crude Oil Refiners Association of Nigeria (CORAN) in Lagos.

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According to him, Nigeria has, for decades, produced crude oil on a significant scale while remaining heavily dependent on imported petroleum products.

He said the strategic direction for Nigeria is “to progressively move from an economy that primarily exports crude to one that increasingly captures value through domestic refining, petrochemicals, and associated industrial activities”.

Lokpobiri said the Federal Government is strengthening the Domestic Supply Obligation to ensure domestic refineries have reliable access to crude, stressing that the policy is critical to the country’s energy security.

“The Domestic Supply Obligation should therefore not be viewed merely as an administrative allocation mechanism. It is an important instrument for advancing national energy security and strengthening the linkage between our upstream and downstream sectors,” he stated.

He said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has developed a DCSO framework in consultation with the Nigerian National Petroleum Company Limited (NNPC Ltd), the Oil Producers Trade Section, the Independent Petroleum Producers Group, CORAN and other domestic refining interests.

“The Federal Government expects this framework to continue evolving from a regulatory obligation into a reliable, transparent, and commercially bankable crude supply system capable of supporting the sustainable operation of domestic refineries,” the minister said.

With a view to strengthening the enforcement of environmental laws so as to sustain a clean, healthy and habitable environment throughout the state, the Osun State Government has set up a Special Task Force on Environmental sanitation.

The Task Force, according to a government house statement issued on Monday in Osogbo, is to be chaired by the state Head Of Service, Samuel Ayanleye Aina and deputised by the Hon. Commissioner for Environment and Sanitation, Hon Mayowa Adejoorin.

The core mandate of the taskforce according to a statement issued by the state commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, is to tackle environmental infractions throughout Osun state particularly indiscriminate waste disposals in drains and roadsides as well as other places that have the potential of constituting environmental nuisances.

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The state government particularly viewed with great concern and accordingly flayed the indiscriminate manner with which people litter many places including road medians with dirts and debris of different kinds, an act which it further noted could cause serious environmental hazards.

The State Government while putting in place the taskforce urged its members to ensure that all enforcement activities are diligently carried out in accordance with the law.

The government warned that offenders will be prosecuted if, henceforth, they are caught or found culpable in one way or the other in negating all the environmental laws of the state.

It also urged the Special Task Force on Environmental sanitation to remain committed to due process in the discharge of its core duties and mandates.

Other members of the Samuel Ayanleye Aina led Special Task Force on Environmental sanitation are the Hon. Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, Special Adviser to the Governor on Political Affairs, Alh.Muniru Raji, General Manager, Osun State Waste Management Agency(OWMA), Mr Oyewole Fatai Oladosu and Mr.K.K.Oyelami.

Other members of the taskforce are Osun Amotekun Corps Commander, Hon. Omoyele Isaac Adekunle, Hon. Commissioner for Women Affairs, Chief (Mrs) Ayobola Fadeyi Awolowo and Special Adviser to the Governor on Market Affairs, Mrs Eniola Omotoso.

The task force is to commence work with immediate effect.

Senator Dino Melaye, a chieftain of the African Democratic Congress (ADC), has said petrol prices could fall to between ₦400 and ₦500 per litre if the party’s proposed fuel subsidy policy is implemented under an Atiku Abubakar-led government.

Melaye made the statement during an appearance on Democracy Today, an AIT programme, on Monday, while explaining the ADC’s economic agenda ahead of the 2027 general elections.

According to him, the proposed restoration of fuel subsidy is aimed at making Nigeria more affordable by reducing the cost of petroleum products and easing pressure on transportation and the prices of goods and services.

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Melaye said the high cost of petrol has affected several sectors of the economy, including transportation, movement of goods, aviation and other businesses.

“Everything is around this subsidy. Once transportation is affected, movement of goods and commodities is affected,” he said.

He added that aviation fuel was also contributing to increased costs within the aviation sector, describing petroleum products as an important link across different areas of the economy.

Defending the ADC’s position on subsidy, Melaye argued that resources which he alleged were previously lost to corruption could instead be redirected towards Nigerians through the proposed policy.

“What we intend to do is that at the initial, there is no subsidy. What you have is corruption. It’s money being stolen. So, instead of the corruption, we are replacing corruption now by leveraging on the people,” he said.

Asked whether the ADC would restore fuel subsidy, Melaye said the party intended to bring it back fully.

“We are bringing back subsidies 100% because subsidies, there is nothing like subsidies. What we have is corruption,” he said.

Melaye further linked the proposed policy to the price of petrol and other petroleum products.

He said the policy would result in a reduction in the price of Premium Motor Spirit (PMS), diesel, kerosene, aviation fuel and other petroleum products.

“And once there is reduction from 1,400, you start buying fuel at 500 or at 400, definitely it’s going to have a resultant effect on every other facet, including price of goods and commodities,” Melaye said.

He argued that cheaper petrol would reduce transportation costs and contribute to lower prices of goods and commodities.

Melaye also questioned the Federal Government’s borrowing levels, comparing borrowing under former President Muhammadu Buhari, when fuel subsidy was in place, with borrowing under the current administration.

He claimed that Buhari’s administration borrowed ₦87 trillion over eight years with fuel subsidy, while the current administration had borrowed ₦157 trillion without subsidy.