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.

A group, the Concerned Nigerians, has raised concerns about an alleged plot to stop the supply of crude oil to domestic refineries, including the Dangote Refinery in Nigeria.

According to the group, a cabal within the Nigerian National Petroleum Company Limited (NNPCL) is working with importers of fake petrol to deny local refineries of crude oil supply.

In a statement signed by its national coordinator, Obinna Francis, this plot, if successful, would have far-reaching consequences, including creating a shortage of refined products, which would force the country to import fuel.

The Concerned Nigerians believes that this plot is driven by a desire to return Nigeria to the era of petrol importation and the reintroduction of subsidies.

“We are shocked that the cabal in the Nigerian National Petroleum Company Limited (NNPCL) is working with importers of fake petrol to deny local refineries of crude oil supply,” Francis said. 

“Such a sinister plot can only be driven by a desire for Nigeria to return to the era of petrol importation and even the reintroduction of subsidy. This is because cutting off crude oil supply to domestic refineries is a recipe for creating a shortage of refined products, which the country would be forced to import.

“We understand that members of this cabal are upset that they could no longer afford the life they were addicted to as their illicit businesses have been cut off by Mr President’s successful reforms and positive development in the sector. However, they cannot continue to undermine our collective wellbeing for their own decadent choices.

“The members of the cabal, working through certain officials of NNPCL, have been manipulating their colleagues in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which has responsibility for overseeing the supply of crude oil to refineries in Nigeria.

“Their plot includes sabotaging exploration and distribution infrastructure to justify the planned refusal to cut off crude supplies. This unholy alliance has the support of individuals who have been angling for a regime change.

“Our suspicion is that while the NNPCL/NUPRC cabal pursue the monetary gains of truncating the steady supply of refined products, their political wing anticipates that a disruption in refining capacity would lead to petrol scarcity, drive fuel prices up and hike food prices with the attendant anger against the government of the day. Their desire is to weaponize such public anger into anti-government protests that would bring the administration down.”

The group is calling on the President and the Department of State Services (DSS) to ensure that no one in NNPCL, NUPRC, or any other connected agency undermines the achievements recorded in the sector.

They also expressed concern that if this plot is not stopped, it would undo all the gains made in the implementation of economic reforms and plunge the country into an economic crisis.

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.