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President Tinubu’s Economic Reforms Spark New Life in Oil and Gas Sector – Speaker Abbas
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…as lawmakers seek dialogue to resolve refinery row
…Nigeria deepens gas sector reforms to boost energy security — Ekpo
By Gloria Ikibah
Nigeria’s oil and gas sector, particularly the downstream segment, is experiencing a significant resurgence, driven by the reform agenda of President Bola Ahmed Tinubu’s administration.
Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, who stated this at the opening of the maiden edition of the Downstream Petroleum Week in Abuja, on Monday, emphasised that the ongoing reforms are reshaping key industries and restoring investor confidence.
The Speaker who was represented by Deputy Speaker, Rt. Hon. Benjamin Kalu, noted that the commencement of operations at the Dangote Refinery represents a major milestone in Nigeria’s pursuit of energy self-reliance.
He also stressed the importance of supporting upcoming indigenous refineries, with Parliament committed to sustaining a regulatory environment that encourages growth and competitiveness.
The theme of the conference is “Celebrating Our Successes, Confronting Our Challenges and Finding Solutions for the Petroleum Downstream Sector,” underscored the need for collaborative efforts and strategic planning to address industry challenges while leveraging current gains.
Speaker Abbas further stated that outcomes from engagements like this provide valuable input for shaping legislation that aligns with industry realities, ensuring stronger partnerships between government and private operators.
He therefore called on stakeholders to present practical and forward-thinking solutions capable of revitalising the downstream petroleum sector, strengthening the wider economy, and improving national development outcomes.
He said, “I am delighted, and excited to welcome you all to the First Annual Downstream Petroleum Week organised by the House Committee on Petroleum Resources (downstream) in partnership with the Federal Ministry of Petroleum Resources and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“As I look around at the quality of representation here, I feel confident that this event will become one of the most defining moments in the evolution of the downstream petroleum sector. Our hope is that as thinkers, innovators, workers and policy advocates, your collaboration will finally reshape the industry, setting agenda for growth, transparency and sustainable practices.
“I therefore commend the Chairman of the House Committee on Petroleum Resources, Hon. (Barr.) Ikeagwuonu Ugochinyere, and the rest members of the Committee, for conceiving and convening this historical national conference, with stakeholders like the NNPCL, PENGASSAN, the Dangote Group, and all the other oil and gas-affiliated associations represented here today. Your participation underscores our shared commitment to progress and reform. Together, we represent the full value chain—policy, regulation, labour, production, and investment, working in one accord to build a stronger energy sector.
“Indeed, agenda-setting programmes, such as this conference, which tend to galvanise critical stakeholders in the petroleum downstream sector, not only foster inclusiveness and commitment to genuine national development, but also reinforce citizens’ trust in the commitment of the National Assembly and government institutions in driving sustainable development. The evolution in the petroleum industry today has been made possible by the landmark passage of the Petroleum Industry Act (2021), a comprehensive, sweeping legislation that reformed the governance, administration and fiscal framework of the Nigeria Petroleum Industry. That law restructured the NNPC, transforming it into a commercial entity and established such regulatory bodies as the Nigeria Upstream Petroleum Regulatory Commission, NUPRC, and Nigeria Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, thus renewing investors’ confidence, reducing oil pilferage, promoting transparency and competition, and generally improving operational efficiency.
“Our legislative responsibility has always been to craft policies, enact laws, and provide the oversight that will strengthen the downstream sector and ensure that it contributes to a more secure, efficient, and resilient Nigerian economy. This conference therefore provides an invaluable opportunity for improved legislation. By bringing together government, industry, labour and investors to share perspectives, confront challenges, and develop practical, forward-looking solutions to the challenges in the sector, this forum ensures that the conversations to be had here will inform the framework of any policy in the energy landscape for years to come.”
In his opening remarks, the Chairman House Committee on petroleum resources downstream, Hon. Ikenga Ugochinyere urged labour unions and stakeholders in the oil industry to engage in constructive dialogue refinery dispute.
He said the Committee is aware of the recent labour concerns involving Dangote Refinery and sector unions, noting that while such issues are not uncommon in developing economies, they must never be allowed to undermine productivity or national stability.
He therefore urged both labour unions and industry operators to always pursue dialogue over disruptions at all times, assuring of the parliament’s readiness to facilitate peace, fairness, and mutual respect in all industrial engagements.
Ugochinyere added that the Downstream Week is designed to be a recurring space for national dialogue, where they assess policies, evaluate progress, and celebrate excellence, toward a shared vision for a competitive and transparent downstream sector
In his goodwill message, Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, reaffirmed the commitment of the Federal Government to advancing reforms in the downstream and gas sector to secure the country’s energy future and unlock wider economic opportunities.
The minister commended the House of Representatives Committee on Petroleum Resources (Downstream) for organising the 2025 conference, describing it as a platform that demonstrates the National Assembly’s leadership in promoting dialogue, transparency and reforms in a key segment of the economy.
Ekpo noted that recent liberalisation and regulatory initiatives have attracted increased private investment in domestic refining, storage capacity and gas infrastructure. He highlighted the impact of the Decade of Gas initiative under President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to expand access to clean energy and reduce dependence on imported fuels.
According to him, ongoing programmes are accelerating the use of compressed natural gas (CNG), liquefied natural gas (LNG) and liquefied petroleum gas (LPG), targeting households, small enterprises and large industries alike. These efforts, he said, are already driving economic activity and improving energy accessibility nationwide.
The minister, however, acknowledged persistent challenges including infrastructure gaps, supply chain bottlenecks, market instability and regulatory uncertainties. He stressed that overcoming these hurdles requires close cooperation between the executive and legislature, strong private sector participation, and investment in modern technology.
Ekpo outlined three priority areas for the ministry going forward to include, Accelerating gas infrastructure development, Promoting gas utilisation and Driving regulatory and investment reforms.
“As we celebrate our progress, we must renew our commitment to partnership, innovation and accountability. Together, we can build a downstream and gas sector that drives industrialisation, creates jobs and delivers prosperity across Nigeria”, Ekpo said.
News
NNPC slashes petrol price twice within four days
The Nigerian National Petroleum Company Limited, NNPCL, has slashed its fuel pump price for the second time within four days.
A market survey on Saturday by DAILY POST showed that NNPCL retail outlets around Airport Junction and Wuse Zone 6 (Berger) in Abuja have reduced their petrol price to N1210 per litre, down from N1260.
This means that the state-owned oil firm slashed the petrol price by N50 per litre.
This comes barely two days after Dangote Refinery reduced its petrol gantry price by N50 to N1,125 per litre.
Recall that four days ago, NNPCL had adjusted its fuel price pump by N75 per litre to N1260.
With the latest drop by NNPCL retail outlets, petrol prices stand between N1210 per litre and N1305 per litre in Abuja and its environs.
The reduction in domestic fuel comes amid falling crude oil prices, which stand at $69 per barrel and $71 per barrel for West Texas Intermediate and Brent crude, respectively, following the easing of the conflict in the Middle East.
Recall that President Bola Tinubu has kept mum amid the clamour by Nigerians for a commensurate drop in domestic fuel pump prices due to the significant reduction in crude oil prices.
News
Lokoja Court order: INEC speaks on NDC, says it’s yet to receive CTC
The Independent National Electoral Commission, INEC, has said it is yet to receive the Certified True Copy, CTC, of the Federal High Court judgment that set aside an earlier order directing it to register the Nigeria Democratic Congress, NDC, as a political party.
INEC revealed this in a statement issued on Saturday by its Chief Press Secretary and Media Adviser to the Chairman, Adedayo Oketola.
According to the commission, although it is aware of media reports on the judgment delivered by the Federal High Court sitting in Lokoja on June 26, it cannot comment on the ruling until it obtains and reviews the certified copy.
The Independent National Electoral Commission, INEC, is aware of reports circulating in the media regarding the judgment delivered on Friday, June 26, 2026, by the Federal High Court sitting in Lokoja, which set aside an earlier order concerning the registration of the Nigeria Democratic Congress.
“However, as of this moment, the Commission has not yet received the Certified True Copy, CTC, of the court’s order,” the statement said.
INEC stated that its legal department would study the judgment upon receipt of the CTC before advising the commission on the next course of action.
“Once the Commission’s legal department receives and thoroughly studies the CTC of the judgment, INEC will take an informed, lawful decision in line with the court’s directives.
“Until then, we cannot comment on the specifics of the ruling, and the public is urged to await the Commission’s formal position on the matter,” Oketola added.
Justice Isah Dashen of the Federal High Court in Lokoja had on Friday set aside the court’s December 10, 2025, judgment directing INEC to register the NDC as a political party.
The court held that the rights of the Peace Movement Party were affected by the earlier judgment because it was not joined in the suit despite claiming ownership of the logo relied upon in securing the registration order.
Justice Dashen consequently ordered that all parties be restored to the positions they occupied before the December 2025 judgment and directed that the substantive suit be heard afresh with all necessary parties joined.
The NDC has rejected the ruling and announced plans to appeal the decision. Its National Chairman, Senator Moses Cleopas, maintained that the party had not been deregistered and argued that the trial court lacked jurisdiction to revisit a matter on which it had already delivered a final judgment.
The ruling has also attracted reactions from opposition figures, including the NDC’s presidential candidate, Peter Obi, the party’s National Leader, Senator Henry Dickson, and other stakeholders, who described the decision as a threat to Nigeria’s multiparty democracy and vowed to challenge it through all available legal channels.
INEC, however, maintained that it would reserve its position on the judgment until it receives and reviews the Certified True Copy.
News
Just in: Police rescue five abductees in Ogun
A joint police operation rescued five victims abducted near Ogbere Forest in Ogun state on Wednesday.
They were rescued within 25 hours by the Lagos and Ogun Police Commands, which were part of a joint operation codenamed KOSAYE, meaning “No Space” in Yoruba.
The woman was among the victims who were shot in the incident. Her daughter and sister were among those rescued by the police on Thursday.
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