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Unstable Petrol Prices Could Force Marketers Out Of Business – PETROAN

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NNPCL Raises Official Fuel Pump Price To N537 Per Litre

Oil marketers in Nigeria are raising concerns over the instability of petrol prices, warning that the constant fluctuations are threatening the survival of their businesses.

Speaking on Channels Television’s Business Morning on Tuesday, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gilly-Harris, lamented the losses being incurred by retailers due to unpredictable price movements.

He highlighted the ongoing price competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) as a major factor affecting the market. Dangote Refinery recently reduced its ex-depot price by N65, bringing pump prices at its affiliated stations down to N860 per litre from N925-N930.

READ ALSO: BREAKING: Kyari Rubishes Fuel Quality Talks As Mere Drama, Bad Marketing Antics

In response, NNPCL also slashed its prices, intensifying competition and further disrupting pricing stability.

Gilly-Harris expressed frustration over the impact of these sudden changes on retailers, noting that businesses are struggling to remain profitable.

“In our consistently weekly reviews, we discovered that the size of loss, and the possibility of most of us getting out of business is glaring at us in the face,” he said.

“We buy products at a price today, and before the close of business, the price has reduced. We thought there should be a mechanism by which prices are analyzed to ensure it doesn’t impact negatively on the industry.”

He explained that while global crude oil prices have seen some reductions, the erratic adjustments in local petrol prices make it difficult for marketers to recover their costs.

“We are fully aware that the international prices of crude oil and other related expenses are also being reduced. But when we invest to buy products at, say, N880 per litre, and the price suddenly drops to N840, N850, N860, or even N870 per litre, it becomes challenging for us to recover our costs,” he stated.

Beyond the price fluctuations, Gilly-Harris also raised concerns about the lack of consultation with industry stakeholders before major pricing decisions are made.

According to him, PETROAN members have the capacity to either import petrol or buy from local refineries, but without a stable pricing structure, it becomes increasingly difficult to operate.

“We have the capacity to import our products. We also have the capacity to buy locally refined products. But we see that prices consistently shift up or down, and there is no clear business consultation on how this should be done,” he said.

He called on regulatory agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Consumer Protection Agency, to take urgent steps to address the instability.

 

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NEWS

Shettima Arrives Maiduguri to Commission Hospital, Schools, 104 Housing Units

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Vice President Kashim Shettima has arrived in Maiduguri, the Borno State capital, to commission the Kashim Ibrahim University Teaching Hospital, a student hostel, and 104 staff housing units at the institution.

Shettima’s arrival was disclosed by Stanley Nkwocha, in a post on X on Friday.

The Vice President was received at the Muhammadu Buhari International Airport in Maiduguri by Borno State Governor, Professor Babagana Umara Zulum; Deputy Governor, Alhaji Umar Usman Kadafur; and the All Progressives Congress (APC) governorship candidate in the state, Engr. Mustapha Gubio.

SEE ALSO: Subsidy Removal, FX Reforms Driving Fresh Oil Sector Investment – Shettima

Members of the National Assembly, the Borno State Executive Council, prominent political figures and other top government officials were also present to welcome him.

During the visit, Shettima is expected to commission the Kashim Ibrahim University Teaching Hospital, alongside a student hostel and 104 staff housing units at the institution.

He will also commission Yerwa Central Primary and Junior Secondary School in Maiduguri, as well as the Kashim Shettima Academy, established by his foundation to support children from less privileged backgrounds.

The Vice President has repeatedly emphasised that poverty should not prevent Nigerian children from accessing higher education.

He has also highlighted government initiatives, including the Nigerian Education Loan Fund (NELFUND), as avenues for students from disadvantaged backgrounds to pursue their educational aspirations.

 

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NEWS

Lagos CP Warns Officers Against Extortion, Brutality Ahead of 2027 Elections

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The Lagos State Commissioner of Police, Tijani Fatai, has warned officers against extortion, brutality, unlawful arrests and detention, stressing that any misconduct will attract disciplinary action.

Fatai gave the warning on Thursday, October 22, during a general lecture for officers and men of the Lagos State Police Command at the POWA Hall, GRA, Ikeja.

According to a press release signed by the Lagos State Police Command’s Public Relations Officer, SP Abimbola Adebisi, and released on Friday, October 23, the lecture was held in compliance with the directives of the Inspector-General of Police, Olatunji Rilwan Disu.

SEE MORE: Lagos Police Nab Educational Consultancy Staff Over Fake Visa Fraud

The lecture brought together area commanders, divisional police officers, tactical commanders, heads of departments and other personnel across the command to reinforce professionalism, discipline, accountability and respect for human rights.

Fatai reiterated the Inspector-General’s directives on addressing complaints against police personnel, particularly allegations of brutality, extortion, unlawful arrests and detention.

He warned that officers who engage in misconduct would face disciplinary action, adding that supervisory officers would also be held accountable for the actions of personnel under their command.

The commissioner specifically cautioned tactical teams against extortion, brutality, intimidation, incivility towards members of the public and other dishonest practices.

He directed tactical commanders to ensure that their personnel operate professionally, exercise restraint and respect citizens’ rights.

According to the commissioner, operational responsibilities must not be used as an excuse to exploit or harass members of the public.

Fatai also directed all personnel to comply strictly with the Nigeria Police Force’s Social Media Policy.

He warned that inappropriate online conduct capable of undermining the image of the police would attract sanctions for erring officers and their responsible supervisors.

Lagos CP Prohibits Arrest by Proxy

Addressing the fight against cultism, Fatai urged officers to intensify efforts to tackle the menace while ensuring that all arrests are conducted lawfully and in accordance with due process.

He prohibited arrest by proxy and the arrest of individuals without lawful justification.

The commissioner also emphasised the need to protect the lives and welfare of suspects in police custody, directing officers to maintain close supervision of detainees and ensure they receive humane treatment throughout their detention.

Police Told to Remain Neutral Ahead of 2027 Elections

Ahead of the 2027 general elections, Fatai charged officers to remain neutral and professional in the discharge of their duties.

He directed personnel to closely monitor electioneering campaigns and provide adequate security to maintain peace and public order.

The commissioner further urged officers to stay informed about local and international developments, strengthen their professional capacity and remain vigilant against emerging security threats that could affect Lagos State.

Fatai charged all officers and men of the command to uphold the highest standards of integrity, stressing that public trust must be earned through responsible conduct, impartial enforcement of the law and respect for the rights of every citizen.

 

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Why Ebola Outbreaks Keep Returning to Africa, Dr Jean Kaseya Explains

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The Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), Dr Jean Kaseya, has explained why Ebola outbreaks continue to occur in Africa, citing the need for stronger health systems and surveillance mechanisms to prevent and control the spread of infectious diseases.

Kaseya spoke during an interview on Channels Television on Thursday, October 22, while discussing recurring Ebola outbreaks on the continent and the challenges facing public health authorities.

SEE ALSO: JUST IN: Over 3,000 Dead as Ebola Outbreak Ravages DR Congo

He explained that some outbreaks originate from animals and spread to humans through contact with the environment, stressing that effective surveillance and stronger healthcare systems were necessary to address the threat.

“We are in Africa in a specific environment. And as you are saying, this outbreak is coming also from animals to humans. It means we are in contact with our environment,” he said.

“But we can avoid that if we have a strong health system in place, if we have strong surveillance mechanisms in place. And this is what we are working to address.”

The Africa CDC chief also announced plans to convene African health ministers on October 28 to discuss the Ebola Bundibugyo outbreak, which he described as the most geographically widespread outbreak of its kind.

According to Kaseya, three African regions—West, Central and East Africa—have been affected, making coordinated action among countries increasingly important.

“This is why I’m calling even a meeting on the 28th of October of all African ministers, because we see now this outbreak — this Ebola Bundibugyo outbreak — is the most geographically extended outbreak, with three regions in Africa already affected: West, Central and Eastern African regions,” he said.

He also expressed confidence in Africa’s preparedness to respond to public health emergencies, while emphasising the importance of strengthening existing systems to contain outbreaks.

Africa CDC Seeks Cooperation Over Nigeria’s Reported Ebola Case

Kaseya further called for cooperation among Nigeria, Uganda and the Democratic Republic of the Congo (DRC) to clarify the travel history of a woman linked to Nigeria’s reported Ebola case.

He said he had been communicating with health authorities in the three countries to establish the woman’s movements before she returned to Abuja on October 3.

According to him, the woman was born in Uganda and had spent some time there before returning to Nigeria. However, further information was needed to establish whether she had travelled through the DRC or had contact with anyone arriving from the country.

“We are talking to all authorities—with Nigerian authorities, with Ugandan authorities, even to DRC authorities,” Kaseya said.

He urged the woman to provide the relevant information to health officials, noting that it would help authorities determine the circumstances surrounding the case and support the countries involved.

“What we want is collaboration from this person, the lady. She has to tell us, to disclose to the authorities. I need this information, as Nigeria needs this information, because we need also to support Uganda,” he said.

Kaseya added that establishing the woman’s travel history and possible contacts would help prevent misunderstandings between the African countries.

“I think these are the pieces of information we are looking for, and it will help all of us, and it will avoid crisis between African countries,” he added.

 

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