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Trump’s policies disturbing Nigeria’s market – FG cries out
The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has cried out over the adverse impact of U.S. foreign policy decisions particularly those attributed to former President Donald Trump on Nigeria’s oil-dependent economy.
Speaking during a Meet-the-Press session organized by the Presidential Communications Team at the Aso Rock Villa, Abuja, Ahmed noted that the unpredictable nature of global oil markets, combined with domestic production issues, is creating serious revenue challenges for Nigeria.
Ahmed pointed out that while falling prices of petroleum products may appear beneficial to Nigerian consumers in the short term, the broader consequences for the country’s economic health are grave.
“As consumers, lower pump prices seem like a relief. But for a nation that depends significantly on crude oil exports for foreign exchange earnings, this is a serious concern. Our revenue inflows are taking a hit,” he said.
Ahmed specifically blamed policy instability from the United States, singling out erratic decisions made under the leadership of President Donald Trump as a contributing factor to the ongoing market volatility.
“What’s destabilizing the global market even more are the inconsistencies in U.S. policies,” Ahmed stated. “President Trump has shown a pattern of announcing one policy direction today, only to reverse it tomorrow. This unpredictability makes it nearly impossible to forecast where the market is headed.”
He cited a sharp price drop from $73 to $60 per barrel within a single trading day as an example of how vulnerable Nigeria’s oil revenues are to global market swings influenced by U.S. actions.
Ahmed further explained that Trump’s aggressive trade measures including tariff wars with China and threats of duties on other major economies have disrupted global trade flows and weakened investor confidence. These actions, often sudden and without clear long-term strategy, have negatively affected crude oil pricing by injecting uncertainty into the global market.
“Traders and investors are reacting with caution. Many are engaging in day-to-day trades without long-term commitments due to fears that the next American policy could dramatically alter the market again,” he said.
Domestic Challenges Worsening the Situation
While international policies play a significant role in destabilizing the market, Ahmed also pointed to homegrown challenges. Issues like pipeline vandalism, oil theft, and declining production capacity are deepening the crisis.
Recent data from the Organization of Petroleum Exporting Countries (OPEC) shows that Nigeria’s oil output has declined to around 1.4 million barrels per day well below its potential and its OPEC production quota.
“These are not just numbers, they translate directly to reduced national income. When global prices fall and domestic output also drops, it’s a double blow to our economy,” Ahmed said.
Strategic Response and Future Outlook
Ahmed reiterated the need for Nigeria to take strategic steps to insulate its economy from external shocks. While short-term solutions may include strengthening local refining capacity and increasing gas utilization, he emphasized the importance of diversifying the economy beyond oil.
“Our long-term security lies in building a robust non-oil sector, expanding domestic refining, and investing in gas infrastructure,” he said.
As the global oil market remains volatile, the NMDPRA chief urged Nigerian policymakers to prepare for continued uncertainty. He also called for closer coordination with global partners and more stable trade and investment environments.
“Ultimately, Nigeria must reposition itself to adapt swiftly to global trends while minimizing the risks associated with dependency on oil exports,” Ahmed concluded.
Members of the Enugu State Caucus of Peoples Democratic Party, ( PDP) in the House of Representatives, Rt. Hon. Nnolim Nnaji , Rt. Hon. Martins Oke and Hon Anayo Onwuegbu have welcomed Rt. Hon. Dennis Agbo and Hon. Chidi Mark Obeta of Labour Party, (LP) to the PDP fold.
They observed that the visionary leadership of Dr Peter Ndubuisi Mba in Enugu State has ignited massive decamps and unprecedented upsurge of membership of the Peoples Democratic Party, (PDP) in the state.
The caucus in a statement issued after the two members of the House of Representatives, Rt. Hon Dennis Agbo of Igboeze North/ Udenu and Chidi Mark Obeta who represents Nsukka/Igboeze South formally announced their transfer of membership to PDP at the resumption of House plenary on Tuesday said it was gladdening to receive them into the PDP fold.
They stressed that PDP in Enugu State was witnessing a great rebirth as a result of the transformative development agenda being unleashed in various sectors of the economy of the state by Governor Mba which has received global commendations.
The Enugu State caucus Leader, Rt. Hon. Nnolim Nnaji on behalf of the members further noted that Governor Mba’s investments in infrastructure, agro economy, and security among others have made Enugu State a tourist’s haven adding that with the good governance structure he has put in place, his second tenure would be a walkover.
Speaker of the Delta State House of Assembly, Rt. Hon. Emomotimi Guwor, along with twenty-one other former members of the Peoples Democratic Party (PDP), elected into the Assembly has officially defected to the All Progressives Congress (APC), following a major realignment of political stakeholders across the state.
The defection of the twenty-two lawmakers has effectively transformed the Delta State House of Assembly into a one-party legislature, as the remaining seven members were originally elected on the ticket of the APC.
Announcing the development on Tuesday during the resumption of plenary after the Easter break, the Speaker stated that the decision was the result of extensive consultations with their constituents and political leaders throughout the state.
He emphasized that the move aligned with Section 109 of the 1999 Constitution, as amended.
While expressing appreciation to members for their contributions so far, Guwor urged the House to ensure the completion of all pending bills as the second legislative session nears its end.
He noted that the political shift towards the APC was in response to the realignment of stakeholders and the desire to align with the Federal Government under President Bola Tinubu’s leadership.
“The mass defection of members of the Peoples Democratic Party, led by Governor Sheriff Oborevwori, to the All Progressives Congress was made in the overall interest of Deltans and the state,” the Speaker said.
He explained that the decision followed extensive consultations held on April 23 and which cumulated on the official reception on April 28, 2025, at the Government House and the Cenotaph, respectively.
He said: “We are fully committed to partnering with the Federal Government to deliver greater development to Deltans.
“On behalf of the House, I commend the courage and visionary leadership of our Governor, Rt. Hon. Sheriff Oborevwori, in making this strategic and timely decision.
“As a legislative body, we stand with His Excellency in this endeavour. This renewed partnership between the state and Federal Government must be supported and allowed to flourish, so that we can begin to enjoy its benefits in the shortest possible time.”
He informed the House that he had received twenty-two letters (including his own) notifying of the change of party affiliation from the PDP to the APC.
The defection, he said, was driven by instability within the PDP’s national leadership and factional divisions within the South-South Zonal Executive Committee, leading to internal conflicts and disunity within the party.
Citing Section 109(1)(g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the Speaker affirmed the constitutional basis for the defection.
“With this action, the Delta State House of Assembly is now composed entirely of members from the All Progressives Congress. We thank our constituents for endorsing this progressive course of action”.
A motion to adopt the letters of party change was moved by the Majority Leader, Hon. Emeka Nwaobi, and seconded by Hon. Ferguson Onwo, who represents Isoko South II.
Speaking to journalists after the plenary, the Majority Leader, Hon Emeka Nwaobi reiterated that the defection was prompted by the crisis within the PDP.
“Our decision was based on the instability at the national level and the factionalization at the South-South level. Consequently, we chose to move to the ruling All Progressives Congress, in accordance with Section 109 of the 1999 Constitution, as amended,” he said.
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