Advocacy Group Demands Urgent Measures Against Rising PMS Prices, Calls For Sector Overhaul

Advocacy Group Demands Urgent Measures Against Rising PMS Prices, Calls For Sector Overhaul

The Northern Christian Youth Professionals (NCYP) has expressed approval for Nigeria’s recent shift from importing Premium Motor Spirit (PMS) to local production………CONTINUE READING 

In a statement on Friday, NCYP Chairman Isaac Abrak acknowledged the benefits of this transition but highlighted the accompanying challenges. He noted that the recent increase in PMS prices—from N617 per liter to as much as N1,200—has imposed significant hardship on Nigerians, worsening the economic strain as the nation strives for development.

The NCYP praised the establishment of the Dangote Refinery as a notable achievement of the Federal Government’s oil reforms. These reforms aim to enhance Nigeria’s ability to refine PMS domestically, reducing the need for imports. Abrak stressed that this progress should not come at the expense of ordinary Nigerians who have endured the impacts of subsidy removal over the past 17 months.

Abrak expressed confidence that the current PMS price surge was not intended by President Bola Ahmed Tinubu, who championed the removal of the oil subsidy. He urged the President to take prompt action to address the issue, calling for necessary changes within the Nigerian National Petroleum Company Limited (NNPCL) and ensuring that the President’s commitment to improving the lives of Nigerians is met.

He also recommended appointing a dedicated Minister of Petroleum to handle the sector effectively, allowing the President to focus on other pressing national issues. The NCYP emphasized the need for greater transparency from NNPCL to build public trust and ensure that the partnership with Dangote Refinery does not undermine the refinery’s efficiency.

The group urged Nigerians to remain patient, as they anticipate a decrease in PMS prices soon. They reassured that PMS is being distributed from the Dangote Refinery and that this process, though currently challenging, will eventually lead to more affordable fuel prices.