NCYP Calls for Immediate Action on PMS Price Surge and Transparent Petroleum Sector Reforms
The Northern Christian Youth Professionals (NCYP) acknowledges the recent transition from the importation of Premium Motor Spirit (PMS) to local production and supply in Nigeria. Like any significant change, this shift comes with challenges. However, the steep surge in the pump price of PMS—from ₦617 per liter to ₦855, and in some cases, as high as ₦1,200—has caused undue hardship on the populace. This increase is particularly concerning, as it exacerbates the strain on an economy that is being repositioned for genuine development.
We recognize the establishment of the Dangote Refinery as a commendable achievement, credited to the oil reforms initiated by the Federal Government. The goal of these reforms is to restore Nigeria’s capacity to refine its PMS locally, thus reducing dependency on imports. However, this important milestone should not come at the expense of ordinary Nigerians, who have in the last 17 months bear the brunt of removal subsidy as national sacrifice to genuinely reform the economy.
NCYP is confident that the current surge in PMS prices is not the outcome envisioned by President Bola Ahmed Tinubu when he made the courageous decision to remove the oil subsidy. We, therefore, call on Mr. President to take decisive action to address the current situation. We urge him to implement necessary changes within the Nigerian National Petroleum Company Limited (NNPCL) and his administration to ensure that his campaign promise of making life easier for all Nigerians is fulfilled.
Furthermore, we strongly encourage the President to appoint a substantive Minister of Petroleum. As the Commander-in-Chief, he is already shouldering numerous responsibilities, including addressing pressing national issues such as insecurity and food shortages. The appointment of a dedicated Minister of Petroleum will enable the President to focus on these other urgent matters, while the Minister can concentrate on effectively managing the petroleum sector and reporting directly to him.
To alleviate the fears of Nigerians who are concerned that the partnership between NNPCL and Dangote Refinery may compromise the refinery’s efficiency, we call for greater transparency from the NNPCL. Clear and open communication with the public will help restore trust and build support, as the NNPCL is ultimately accountable to the people it serves.
Lastly, we urge Nigerians to remain calm and patient, as we expect a reduction in PMS prices in the coming days. Trucks are currently loading PMS from the Dangote Refinery and distributing it across the country. This distribution process, though challenging, will soon stabilize, leading to more affordable fuel prices for all.
NCYP remains committed to advocating for the well-being of all Nigerians and calls on the government to prioritize the needs of the people during this period of transition.
Signed
Isaac Abrak
Chairman, Northern Christian Youth Professionals