Mkpoikana Udoma
Port Harcourt — Nigeria’s leading downstream petroleum marketers now supply nearly 20 million litres of petrol daily without any fiscal burden on the federal government, following the elimination of petrol subsidies, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Speaking after receiving a delegation of top private fuel distributors, Edun described the marketers’ contribution as “a testament to the strength and resilience of Nigeria’s private sector and its critical role in ensuring energy security.”
He said, “This is a clear demonstration that the right policies are in place and are working. The private sector is stepping up. You are ensuring the supply of products, helping stabilise the market, and at no cost to the government,” Edun said.
The delegation, led by Mr. Abdulkabir Adisa Aliu, Chief Executive Officer of Matrix Energy, also included Mr. Yakubu Maishanu, Chairman/CEO of AYM Shafa Ltd, and Alhaji Auwalu Abdullahi Rano, CEO of A.A. Rano.
In their presentation, the marketers lauded recent government policies, including the removal of subsidies and foreign exchange reforms, for creating a more stable operating environment. They highlighted increased domestic fuel supply, a stronger naira, and noticeable reductions in pump prices as signs of progress.
Aliu said, “Today, our companies collectively supply close to 20 million litres of PMS daily, and we do so without any form of subsidy from the federal government. This shows that deregulation is not only working, but also attracting more private investment.”
The delegation also reaffirmed their commitment to deepening investment in Nigeria’s energy future, especially in Compressed Natural Gas, CNG, in line with the federal government’s energy transition goals.
Edun, in response, expressed the government’s readiness to maintain a transparent and predictable policy environment that will continue to attract private capital into the sector.
“We are committed to creating a business-friendly atmosphere where investments can thrive, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda,” Edun said.
