news
Update: Energy crisis: Petrol scarcity to persist
….Petrol subsidy could hit N6trn by end of year, IMF warns
…PENGASSAN cites bridging cost, says high diesel price affecting trucking of petrol by tankers
…Adds sole importation, inadequate funds, others can’t guarantee supply
…As MOMAN canvasses full downstream deregulation, says inadequate supply responsible for scarcity
Indications emerged yesterday that the ongoing fuel scarcity in the country may not abate soon, as major stakeholders in the sector are currently expressing divergent views as to the cause(s) of the crisis.
While the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, said there is sufficient stock of the product to serve the nation for some weeks, which seemed to be the position of the Nigerian National Petroleum Corporation Limited, another major stakeholder, the Major Oil Marketers Association of Nigeria, MOMAN, said the product available is inadequate to serve the nation, noting that the shortage was fueled by fundamental issues and problems in the sector.
PENGASSAN blamed the current scarcity on difference in the bridging gap cost between when the cost of diesel was N250 per litre and now that it had risen to as much as N820.
Speaking at an electronic medium monitored in Lagos yesterday, President of PENGASSAN, Mr. Festus Osifo, said: “Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA and truck drivers are the ones administering the bridging fund.
“At a particular time, they agreed with truck drivers that the bridging fund is going to be about N10 per litre, depending on the destination you are going to all over the country.
“As at when they agreed, the cost of diesel was about N250, so it was fashionable and the N10 was okay, but today, the cost of diesel is over N700. It has tripled.
“So, the expectations from the tanker drivers is that since the cost has gone up, instead of paying N10.40 kobo as the case may be, you have to multiply it by three. This is a major problem. As at today, we have close to two billion litres of PMS, so the problem is not the stock.’’
He explained that while the stock is available, most truck drivers are not willing to move these products, “because of the previous problem I just enumerated.
“One of the issues again is that today, NNPC is the sole importer of PMS, so they import PMS into the country, and this PMS is brought to the high sea, so they rent some smaller vessels to bunker the PMS and take to the various tank farms or depots.
“So, if it’s the NNPC depots and you are loading from the NNPC depots, you are going to pay about N148 as the ex-depot price. But some of the PMS are also stored in private depots and those private depots don’t sell to retailers for N148; they add some premium to it. At the end of the day, they sell between N152, N155, N160 and N162.”
Inadequate supply, other challenges abound — MOMAN
Countering this at a virtual meeting monitored yesterday in Lagos, the Chairman of MOMAN, Mr. Olumide Adeosun and the Chief Executive Officer, MOMAN, Mr. Clement Isong, jointly observed that the current scarcity of petrol was occasioned by supply inadequacy in the last few weeks, which was worsened by the scarcity and rising price of Automotive Gas Oil (diesel), which tanker drivers depend on to move petrol from the depots to the filling stations.
They said: “MOMAN, as an association, fears that the current supply framework cannot guarantee steady and consistent supplies to the country, given the current state of government finances and unpredictable international supply shortages.”
Full downstream deregulation is key
The duo, who canvassed deregulation, said: “We recommend a gradual price deregulation with targeted palliatives (e.g. transport and agricultural subsidies) to the public to ease implementation.
“However, in the interim, MOMAN recommends that the current single supplier strategy be reviewed. The Federal Ministry of Petroleum Resources, in collaboration with the Ministry of Finance and other relevant MDAs, should set up a task force to immediately focus on increasing diesel supply through accelerated initiatives to increase local modular refining capacity. This move will tackle the supply and distribution challenges.
“There should be phased rehabilitation of existing NNPC refineries to hasten supply of middle distillates (AGO & ATK). MOMAN recognizes and closely associates with the need to ease challenges, with respect to high energy and transportation costs occasioned by extraneous circumstances.
“MOMAN shall continually do its best to distribute petrol to its customers across the country and keep exploring opportunities to partner with industry stakeholders, The Authority and the government should ensure the sustainability and institutionalization of a viable petroleum downstream sector in Nigeria.
“The full deregulation of the petroleum downstream sector and full implementation of the Petroleum Industry Act (PIA) 2021 clearly remains the most viable long-term solution to the country’s supply and distribution challenges.”
Ukraine-Russian war factor
In any case, an investigation by Vanguard indicated that the outbreak of the Ukraine – Russian war and ban on Russian oil and gas, have culminated in scarcity and rising prices globally.
Consequently, Nigeria remains one of the most affected nations because of its over-dependence on imported petroleum products at the expense of the nation’s scarce foreign exchange, thus over-stretching the capacity of government to import.
Legislators postpone dialogue with stakeholders
Meanwhile, the House of Representatives yesterday postponed its meeting with the major stakeholders in the downstream sector from yesterday to Friday this week, following the taking of permission and absent of major stakeholders.
However, the meeting was targeted at finding lasting solution to the nation’s prolonged energy crisis.
Specifically, those expected at the public hearing include the Nigerian National Petroleum Corporation (NNPC) Company limited represented by the GMD, Mr. Mele Kyari, the Minister of State for Petroleum, Timipre Sylva, the Chief Executive Officer of the NMDPRA, the Managing Director of the Nigerian Gas Company (NGC) and that of the Nigerian Gas Marketing Company (NGMC), two subsidiaries of NNPC Limited and others.
The lawmakers had in a letter signed by the Chairman of the Joint Committee on Petroleum Resources (Downstream) Hon. Mahmud Gaya, invited the heads of the organisations for the hearing.
But addressing the House, the Chairman of the joint committee, Gaya said he received communication from the GMD and the minister who said they would not be able to make it because they were also in another meeting at the time.
Long fuel queues, other woes remain
However, the queues remained visible at many filling stations across the nation, yesterday, due to lack of adequate supply.
Transporters, who managed to get supply at the prevailing black market price, ranging from N200 to N300, increased fares to cover cost.
This, it was gathered, has already culminated in the general increase in the prices of basic services and goods, including commodities, a development worsened by epileptic power supply and high prices of cooking gas as well as aviation fuel.
The Fusengbuwa ruling house of Ijebu-Ode, next in line to produce the new Awujale of Ijebuland, Ogun State, has directed popular Fuji musician, Wasiu Ayinde, popularly known as KWAM 1, to complete the family’s royal lineage data form to establish his legitimate membership in the ruling house.
The Chairman of the ruling house and former National President of the Institute of Chartered Accountants of Nigeria, Abdulateef Owoyemi, told our correspondence on Saturday that only bonafide members of the family would be allowed to participate in the selection process.
Ayinde, in a letter dated December 3, 2025, addressed to the chairman of the Fusengbuwa Ruling House in Agunsebi Quarters, Ijebu-Ode, announced his interest in the stool.
The Fuji icon described himself as a “bonafide son” of the ruling house, adding that his candidacy aligns with Ijebu customary law and the Ogun State Chieftaincy Laws.
The letter went viral on social media on Friday, sparking reactions from members of the public.
However, Owoyemi explained that the Olori Omooba of Ijebu land had been directed to complete the Fusengbuwa ruling house royal lineage data form.
He stressed that the form, which requires contenders to trace their genealogy back seven generations, ensures that only genuine princes from the family can participate, thereby blocking “strangers” from claiming the throne.
He said, “The first step for anyone interested in contesting for the Awujale throne is to declare their lineage by filling the standard Fusengbuwa ruling house royal lineage data form. Once confirmed as a legitimate member of the ruling house, they can then apply for the expression of interest form.
“We have told him, just like everyone else interested in the Awujale throne, that the first step is to declare his lineage. He will do this by completing the royal lineage data form, showing his full name, which parent and grandparent he descends from, and continuing up to seven generations.
“The completed form will be signed and submitted to the head of the ruling house unit of the Fusengbuwa ruling house, who will affirm that he is a genuine member. Only then will the process move forward.”
Although the application window for the throne officially closed on December 5, Owoyemi said KWAM 1 had been given an extension of five days, which would lapse on December 10.
“We won’t shut anybody out of picking the next Awujale, but we must ensure that you are a legitimate member of Fusengbuwa. Every right comes with responsibilities. For a royal family, everyone must prove their legitimacy by completing the royal lineage data form.
“When we receive the form, we will review it meticulously. If clarification is needed, we will contact the applicant. We welcome men of influence who will use their influence to enhance the throne, not to claim it, ensuring that what truly belongs to our family is preserved,” he said.
Owoyemi explained that the ruling house hoped to have a new Awujale by the second or third week of January 2026.
“The local government has given us 14 days to select candidates, which expires on December 18. After that, the kingmakers have seven days to deliberate and choose one candidate, whose name will be forwarded to the governor.
“Legally, the government then has 21 days to conduct background checks and security clearance, allowing for objections or protests. After this period, the State Executive Council will ratify the nominee, and the governor will announce the next Awujale, after which coronation rites will commence.
“So, combining the candidate selection, kingmakers’ deliberation, and legal objection period, we are looking at around 42 days. Therefore, we expect the next Awujale to emerge between the second and third week of January,” Owoyemi said.
The Fusengbuwa ruling house of Ijebu-Ode, next in line to produce the new Awujale of Ijebuland, Ogun State, has directed popular Fuji musician, Wasiu Ayinde, popularly known as KWAM 1, to complete the family’s royal lineage data form to establish his legitimate membership in the ruling house.
The Chairman of the ruling house and former National President of the Institute of Chartered Accountants of Nigeria, Abdulateef Owoyemi, told our correspondence on Saturday that only bonafide members of the family would be allowed to participate in the selection process.
Ayinde, in a letter dated December 3, 2025, addressed to the chairman of the Fusengbuwa Ruling House in Agunsebi Quarters, Ijebu-Ode, announced his interest in the stool.
The Fuji icon described himself as a “bonafide son” of the ruling house, adding that his candidacy aligns with Ijebu customary law and the Ogun State Chieftaincy Laws.
The letter went viral on social media on Friday, sparking reactions from members of the public.
However, Owoyemi explained that the Olori Omooba of Ijebu land had been directed to complete the Fusengbuwa ruling house royal lineage data form.
He stressed that the form, which requires contenders to trace their genealogy back seven generations, ensures that only genuine princes from the family can participate, thereby blocking “strangers” from claiming the throne.
He said, “The first step for anyone interested in contesting for the Awujale throne is to declare their lineage by filling the standard Fusengbuwa ruling house royal lineage data form. Once confirmed as a legitimate member of the ruling house, they can then apply for the expression of interest form.
“We have told him, just like everyone else interested in the Awujale throne, that the first step is to declare his lineage. He will do this by completing the royal lineage data form, showing his full name, which parent and grandparent he descends from, and continuing up to seven generations.
“The completed form will be signed and submitted to the head of the ruling house unit of the Fusengbuwa ruling house, who will affirm that he is a genuine member. Only then will the process move forward.”
Although the application window for the throne officially closed on December 5, Owoyemi said KWAM 1 had been given an extension of five days, which would lapse on December 10.
“We won’t shut anybody out of picking the next Awujale, but we must ensure that you are a legitimate member of Fusengbuwa. Every right comes with responsibilities. For a royal family, everyone must prove their legitimacy by completing the royal lineage data form.
“When we receive the form, we will review it meticulously. If clarification is needed, we will contact the applicant. We welcome men of influence who will use their influence to enhance the throne, not to claim it, ensuring that what truly belongs to our family is preserved,” he said.
Owoyemi explained that the ruling house hoped to have a new Awujale by the second or third week of January 2026.
“The local government has given us 14 days to select candidates, which expires on December 18. After that, the kingmakers have seven days to deliberate and choose one candidate, whose name will be forwarded to the governor.
“Legally, the government then has 21 days to conduct background checks and security clearance, allowing for objections or protests. After this period, the State Executive Council will ratify the nominee, and the governor will announce the next Awujale, after which coronation rites will commence.
“So, combining the candidate selection, kingmakers’ deliberation, and legal objection period, we are looking at around 42 days. Therefore, we expect the next Awujale to emerge between the second and third week of January,” Owoyemi said.
The Court of Appeal in Abuja has affirmed the October 4, 2024 judgment of a Federal High Court in Abuja barring the Directorate of Road Traffic Services (popularly called VIO) from further stopping, impounding, or confiscating vehicles on the road and imposing fines on motorists.
In a judgment on Thursday, a three-member panel of the appellate court resolved the three issues identified for determination against the appellant, the Directorate of Road Traffic Services.
Court warns EFCC boss over non-compliance with order to release 27 wrongly seized houses
Alleged criminal defamation: Court grants FG’s request to shift Natasha’s trial till next year
Read Also: Court strikes out stealing charge against businessman
Justice Oyejoju Oyebiola Oyewumi, who delivered the lead judgment, held that the appeal was without merit. She awarded a cost of N1million against the appellant and in favour of the respondent, a rights activist and public interest attorney, Abubakar Marshal.
President Bola Tinubu has nominated a former Chief of Defence Staff, General Christopher Musa, as the new Minister of Defence.
The nomination was conveyed in a letter sent to Senate President, Godswill Akpabio, on Tuesday, announcing Musa as the replacement for Mohammed Badaru, who resigned from the position on Monday due to health reasons.
In his letter to the Senate, the President expressed confidence in Musa’s capacity to lead the defence ministry and strengthen Nigeria’s security framework.
The nomination was confirmed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The statement added, “General Musa, 58, on December 25, is a distinguished soldier who served as Chief of Defence Staff from 2023 until October 2025. He won the Colin Powell Award for Soldiering in 2012.
“Born in Sokoto in 1967, General Musa received his primary and secondary education there before attending the College of Advanced Studies in Zaria. He graduated in 1986 and enrolled at the Nigerian Defence Academy the same year, earning a Bachelor of Science degree upon graduation in 1991.
“General Musa was commissioned into the Nigerian Army as a Second Lieutenant in 1991 and has since had a distinguished career.
“His appointments include General Staff Officer 1, Training/Operations at HQ 81 Division; Commanding Officer, 73 Battalion; Assistant Director, Operational Requirements, Department of Army Policy and Plans; and Infantry Representative/Member, Training Team, HQ Nigerian Army Armour Corps.
“In 2019, he served as Deputy Chief of Staff, Training/Operations, Headquarters Infantry Centre and Corps; Commander, Sector 3, Operation Lafiya Dole; and Commander, Sector 3 Multinational Joint Task Force in the Lake Chad Region.
“In 2021, General Musa was appointed Theatre Commander, Operation Hadin Kai. He later became Commander of the Nigerian Army Infantry Corps before being appointed Chief of Defence Staff by President Tinubu in 2023.”
Newsthumb had earlier reported that Badaru, who was appointed Minister of Defence on August 21, 2023, cited ill health in his resignation letter.
A statement by Onanuga added that Tinubu had accepted the resignation and thanked him for his service to the nation.
The statement further noted, “President Tinubu will likely inform the Senate of Badaru’s successor later this week.
“His resignation comes amid President Tinubu’s declaration of a national security emergency, with plans to elaborate on its scope in due course.”
Badaru recently came under criticism following a BBC Hausa interview in which he said some terrorists could not be targeted because their forest hideouts were too dense for bombs to reach.
Stephen Angbulu
With three years of experience, Stephen, The PUNCH correspondent, has been covering Nigeria’s presidency, politics, security, immigration and trafficking in persons
-
news5 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health5 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle4 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health5 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
health6 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment11 months agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news7 months agoBREAKING: Tinubu swears in new NNPCL Board