The Federal Government has scheduled a national forum for July 23 and 24, 2025, to address growing concerns over petrol pricing and supply issues in Nigeria’s downstream sector. The move comes amid increasing pressure from independent marketers calling for price regulation.

The summit, being organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), will bring together key stakeholders—including industry operators, marketers, refiners, and government representatives—to discuss pricing frameworks, feedstock supply, and strategies to stabilise the deregulated market.

Francis Ogaree, Executive Director of Hydrocarbon Processing Plants, Installation and Transportation Infrastructure at the NMDPRA, confirmed the summit dates during the 24th Nigeria Oil and Gas Energy Week held in Abuja.

Ogaree highlighted the urgent need for dialogue to establish a stable pricing structure in Nigeria's post-subsidy era. He acknowledged concerns raised by marketers over unpredictable petrol price changes, particularly recent price cuts by the Dangote refinery that caught many retailers off guard.

Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has consistently advocated for pricing transparency and a stable energy market. He warned that price volatility could harm retailers who purchased stock at higher rates before unexpected reductions.

Gillis-Harry also urged for fair practices across the sector and emphasized the need for a reliable mechanism to monitor and manage price fluctuations.

In a related concern, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) recently criticized the current petrol pricing regime, alleging that marketers are exploiting consumers by inflating prices. The union insists that pump prices for Premium Motor Spirit (PMS) should range between ₦700 and ₦750 per litre.

Responding to these criticisms, Ogaree assured that the NMDPRA is working to reduce uncertainty in the sector and promote local refining investments. Speaking at a panel session titled “Building a Resilient and Competitive Refining Sector,” he noted:

“Petrol pricing is an ongoing issue, and we’re actively working on standardisation. That’s why we’ve scheduled the stakeholder forum for July 23 and 24—to address concerns and put structures in place. Pricing is a sensitive topic that varies by country, but we are committed to ensuring balance in Nigeria.”

Ogaree also provided updates on Nigeria’s refining capacity, stating that the country now has 10 operational or near-operational refineries. These include the three Nigerian National Petroleum Company (NNPC) refineries, the 650,000 barrels-per-day (bpd) Dangote refinery, and six modular refineries.

He revealed that the emerging refineries would require between 1,000 and 200,000 bpd and are expected to begin operations by 2026. However, he stressed that the success of the downstream sector will depend heavily on the availability of crude oil feedstock.

“We’ve issued 47 refinery licenses covering establishment and construction stages. But when all go operational, feedstock supply will be critical. We must scale up crude production to meet future demand.”