The Energy Justice Forum (EJF), a coalition of energy rights activists, has commended President Bola Tinubu for restoring the naira-for-crude policy, asserting that the move benefit local refineries and the broader Nigerian populace.

In a statement on Friday, the group said the policy shift is not just in the interest of Dangote Refinery, but a long-overdue redirection for local refining capacity and everyday Nigerians who have long borne the burden of an import-dependent energy system.

Dr Godknows Manager, national president of EJF, described the decision as “the most patriotic intervention in Nigeria’s petroleum sector in recent history,” while urging the newly appointed leadership of the Nigerian National Petroleum Company Limited (NNPCL) to align with the president’s reformist path.

“We must be clear — this policy is not about Dangote alone. It is about returning value to Nigerians, enabling refineries in Warri, Port Harcourt, and Kaduna to thrive, and ensuring that Nigerians are not perpetually held hostage to dollar-denominated fuel pricing,” Manager said.

“President Tinubu has restored dignity to our economic sovereignty. For the first time in a long time, the average Nigerian sees a glimpse of hope that our natural resources may finally work in our favour.”

The group also issued a stern warning to the new NNPCL Group Chief Executive Officer, Bayo Ojulari, and board chairman, Pius Akinyelure, urging them not to inherit what it called “the dubious, dollar-chasing reforms” of the former GCEO, Mele Kyari.

“It would be a fatal mistake for the new leadership at NNPCL to continue on the path of ruin orchestrated by Kyari — a path that nearly collapsed our economy, undermined local refining, and exposed the country to foreign exchange shocks,” Manager declared.

“We are watching closely. Nigerians are watching. And we will not hesitate to mobilise civil society resistance if old habits creep back in through the back door.”

He said Nigerians “deserve transparency, not tokenism; energy justice, not backdoor deals”.

“There must be a clear audit of Kyari’s tenure — all contracts, all swaps, and all the shady transactions disguised as ’liberalisation’. We are demanding full disclosure and accountability.”

Manager further encouraged the new board to strengthen collaborations with indigenous investors and local engineers to ensure that Nigeria’s refining ambitions are realised.

“We cannot build a sustainable energy future on the back of secrecy and elitist policies. This is a new dawn. The new NNPCL must walk in light, not shadows,” he added.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025.

Under the new arrangement, buyers in Lagos would purchase fuel at N860 per litre at MRS outlets.

The price adjustment, according to Dangote was designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

According to report, Dangote has severally reduced the prices of petrol and other refined petroleum products.

This marks the second price reduction of PMS in February 2025, following a previous decrease of N60.00 earlier in the month.

Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.

With the latest reduction, the management of the refinery said Nigerians will be able to purchase the Dangote petrol at the following prices in all our partners’ retail outlets.

“For MRS Holdings stations, it will sell for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East respectively.”

“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East.”

The company assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand, as well as a surplus for export to enhance the country’s foreign exchange earnings.

It called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.

The BenKalu Intellectuals Network (BIN), a think tank of young intellectuals, has given its seal of approval to President Bola Tinubu’s 2025 Budget, describing it as a “budgetary masterstroke”.

According to the group, the budget demonstrates President Tinubu’s commitment to empowering Nigeria’s youth and driving economic growth through strategic investments in critical sectors.

In a statement signed by its leader, Comrade Ben Aguele, the network praised the allocation of ₦3.5tn for education, noting that this investment will yield long-term dividends by producing an educated and skilled workforce.

Aguele also commended the allocation of ₦4.06tn for infrastructure, which is expected to transform Nigeria’s economic landscape by driving innovation, entrepreneurship, and economic growth.

The group also applauded President Tinubu’s commitment to transparency and accountability, noting that the budget’s emphasis on open governance and citizen participation will ensure that Nigerians are actively engaged in the budgeting process.

Aguele added: “As a collective of young intellectuals, we at the BenKalu Intellectuals Network (BIN) have meticulously analyzed the 2025 Budget presented by President Bola Tinubu. Our verdict is unequivocal: this budget is a tour de force, a masterful blend of fiscal prudence, strategic prioritization, and visionary leadership.

“President Tinubu’s budget is more than just a fiscal document; it’s a blueprint for Nigeria’s resurgence. By allocating resources to critical sectors such as Defence and Security, Infrastructure, Health, and Education, the President has demonstrated a profound understanding of the country’s complex challenges.

“We are also pleased by the budget’s emphasis on human capital development. The allocation of ₦3.5tn for Education is particularly noteworthy, as it underscores the President’s commitment to empowering Nigeria’s youth. This investment will yield dividends in the long run, as an educated and skilled workforce is the bedrock of any prosperous nation.

“We are also impressed by the allocation of ₦4.06tn for Infrastructure, which will have a transformative impact on Nigeria’s economic landscape. As young intellectuals, we recognise the importance of modern infrastructure in driving innovation, entrepreneurship, and economic growth. With this allocation, we expect to see significant improvements in Nigeria’s transportation networks, energy systems, and digital infrastructure.

“Furthermore, we applaud the President’s commitment to transparency and accountability. The budget’s emphasis on open governance and citizen participation is a welcome development, as it will ensure that Nigerians are actively engaged in the budgeting process.”

The network urged the National Assembly to expedite the budget’s passage and called on Ministries, Departments, and Agencies (MDAs) to prioritise transparency and accountability in their utilisation of allocated funds.