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Dangote Refinery: PETROAN President, Billy Gillis-Harry, calls on Tinubu, stakeholders to be wary
The President of the Petroleum Products Retail Outlets Owners Association, (PETROAN), Billy Gillis-Harry, has called on the current administration of President Bola Ahmed Tinubu and other stakeholders to be wary of Dangote Refinery and its fuel price regime in the coming months, with a view to avoiding cannibalization of small businesses in the oil and gas sector.
Gillis-Harry, who stated that though the current administration wants Dangote refinery to start producing on all four valves widely open and wide, expressed that there is a need to be very cautious about the development of the business.
He made the submission during an interview with, Daily Post, adding that he is proud of the development as a Nigerian, particularly with 650,000 barrels of crude oil “but I just hope that his pride will not keep me hungry without being in business.”
“Well, we want Dangote refinery to start producing on all four valves. All valves should be open and wide. However, there’s a need to be cautious about the development of the business. 650,000 barrels of crude oil and we’re very proud. As a Nigerian, I’m very proud.
“Because right now, we’re doing our little businesses from importation. We’re doing it. To my knowledge, nobody has brought substandard products except when there was a general product of PMS that came in that of course explanations were given. To my knowledge, none of my members have come to say, Oh, we bought PMS as a company and the rating is low. Of course with our 3P’s solution, we also take measures on the product.
“Believe me, I will not be able to say either yes or no but I think that such a broad-based allegation by Dangote Refinery should be backed with empirical evidence. It shouldn’t be just a one-off allegation because people are importing products. These products are going to be used like Shell and AGIP and different stakeholders in the industry that are using it to be able to further produce crude oil. So I mean, if there is a presentation like that, we should expect the houses also to come out and tell us the whole part of the story. And then of course Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN responded by saying oh, sorry, our members are not bringing it,” he maintained.
Speaking further, PETROAN President noted that it would advise Dangote Refinery to also have stakeholders’ meetings consistently to be able to review the obtainable price in the industry, and avoid being monopolistic in its dealings.
“We want a situation where Dangote will consistently work with the rules, let him refine and then let the depots distribute and let the retailers take from the depots and give to the end users, he stated.
While saying there is a need for domestic revaluation of the Oil and Gas industry, he explained that the Dangote Refinery must be able to fix prices at an affordable rate for Nigerians immediately it commences fuel supply
He said: “The reason is, now why should Dangote buy crude oil in US dollars? We are not printing US dollars in Nigeria. So even though oil is dominated as an international commodity that is predicated on the US dollar, part of the emergency decisions that I should expect to happen is that we are going to produce 2 million barrels of crude oil strictly for our domestic consumption, and we’re going to price it at the Nigerian Naira.
“Of course. That’s why sometimes I bother to ask. How did it get so bad that Dangote Refinery had to import crude oil? Because they will not have told him about the Bonny light because they’re also producing oil there. But they are importing from other countries and storing up. So we need to register the entire system and be transparently honest because for crying out loud, being the poorest man or the richest man in the world, we are all equal.”
Similarly, he touched on the deadlines and missed deadlines for the take-off of the Port Harcourt, Kaduna, and Warri refineries, expressing that the government is doing everything possible to make them up and running.
He concluded that PETROAN is working with those who would be given refinery licenses that did not have capacity and partnership, saying they have enough retail outlets to be able to obtain from them enough partnership and guarantee for them to further raise capital to be able to do the work.
The Minister-designate for Power, Joseph Olasunkanmi Tegbe, has firmly clarified that he never promised to fix Nigeria’s national electricity grid within three months, describing such claims circulating in sections of the media as a misrepresentation of his Senate screening remarks.
A statement issued after his appearance before the Senate stressed that Tegbe was deliberate and cautious in his presentation, avoiding unrealistic timelines while outlining a structured reform pathway for the power sector.
According to the clarification, Tegbe explained that while Nigerians can expect early signs of progress, particularly in grid stabilisation within his first 100 days in office, comprehensive reforms will be guided strictly by technical assessments, stakeholder consultations, and sector realities.
He noted that critical challenges such as gas supply constraints, metering gaps, infrastructure decay, and commercial inefficiencies require coordinated interventions that cannot be resolved through arbitrary timelines.
“My commitment to this distinguished chamber and to Nigerians is clear: we will deliver visible and measurable improvement in the power sector,” Tegbe stated during the screening.
He assured that his focus would include stabilising the national grid, modernising transmission and distribution infrastructure, strengthening commercial frameworks, and enforcing accountability across the electricity value chain.
On tariff policy, the minister-designate reaffirmed that reforms would be carefully designed to balance sustainability with social protection, ensuring that vulnerable households are shielded while also restoring investor confidence in the sector.
The statement further emphasised that Tegbe’s approach reflects discipline, technical understanding, and a reform-minded agenda aimed at delivering lasting solutions rather than short-term political promises.
It added that he remains open to responsible media engagement and constructive clarification where necessary, noting that accurate reporting is essential to public understanding of ongoing efforts to reposition Nigeria’s power sector.
Tegbe reaffirmed his readiness to lead a transparent, results-driven reform process anchored on accountability, realism, and measurable progress.
A grand cultural renaissance celebrating the enduring legacy of legendary Yoruba war hero and statesman, Ogedengbe Agbogungboro, will take centre stage as the 2026 edition of Ogedengbe Fiesta holds from July 29 to 31 across Osun State and Ekiti State.
The three-day heritage festival, unveiled by organisers on Wednesday, is themed, “Ogedengbe Agbogungboro Legacy: Leadership, Security, and Statecraft for Modern Governance in Nigeria.”
The event is designed to preserve Yoruba cultural heritage, deepen historical consciousness, promote tourism and stimulate national conversations on leadership, peacebuilding and governance.
According to the organisers, the fiesta will commence with traditional homage at Atorin and heritage excursions to notable Kiriji War historical sites in Imesi-Ile, where participants will relive significant moments in Yoruba military and political history.
The programme will also feature guided visits to the historic Ogedengbe Cave, Ibu Latoosa Site and the Yoruba Peace Treaty Grove, all regarded as symbolic monuments of Yoruba resilience, diplomacy and unity.
As part of activities lined up for the celebration, participants will tour the gardens of renowned legal icon and elder statesman, Afe Babalola, in Okemesi-Ekiti.
The organisers further disclosed that a Legacy Awards and Hall of Fame Investiture ceremony would hold in Ilesa to honour individuals who have contributed immensely to the promotion of Yoruba culture, leadership and community development.
A distinguished personality lecture in honour of Aare Afe Babalola, SAN, OFR, CON, and Arole Fabunmi of Okemesi-Ekiti is also expected to headline the event, with scholars, traditional rulers, cultural enthusiasts and public intellectuals billed to discuss pathways to strengthening governance and security through indigenous values and historical lessons.
The organisers noted that all activities would commence daily by 11am, adding that the festival would serve as a rallying point for lovers of Yoruba culture, history and tourism across Nigeria and beyond.
They described the fiesta as not only a celebration of the heroic exploits of Ogedengbe Agbogungboro, but also a strategic platform to inspire a new generation of leaders through the ideals of courage, unity, patriotism and visionary leadership.
The Federal Government on Tuesday ruled out any plan to reinstate fuel subsidy despite worsening economic hardship and mounting public pressure.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this in Paris, France, during a meeting with global investors alongside President Bola Tinubu.
Oyedele said the government would also not introduce price controls, stressing that market forces remain the preferred mechanism for determining petrol prices.
“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market,” he said.
The minister argued that the subsidy regime had long undermined economic efficiency, adding that emerging global energy shifts, including developments in Iran, present fresh investment opportunities for Nigeria.
The removal of petrol subsidy in May 2023 triggered a steep rise in inflation, worsening the country’s cost-of-living crisis.
Nigeria’s headline inflation climbed from 22.41 per cent in May 2023 to 34.19 per cent by June 2024 — its highest level in nearly two decades — driven by surging fuel, food, and transportation costs.
Food inflation further accelerated, exceeding 39 per cent by October 2024, while transport fares soared by nearly 300 per cent, compounded by currency devaluation.
Despite the economic strain, Tinubu defended the policy, saying it had stabilised the foreign exchange market.
“Subsidy that was a burden to the entire country was removed, and ever since we have achieved FX stability,” the President said, according to his Special Assistant on Social Media, Dada Olusegun.
In a related statement, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, said the administration’s reforms were aimed at eliminating structural distortions, strengthening macroeconomic stability, and laying the foundation for inclusive growth.
He added that the government remained committed to fiscal discipline and transparency.
Highlighting economic progress, Oyedele disclosed that Nigeria recorded an 11.2 per cent growth in Gross Domestic Product in dollar terms in 2025, describing it as a major step towards the country’s ambition of building a $1tn economy by 2030.
He also pledged that the government would begin publishing quarterly financial reports to enhance accountability and public trust.
Also speaking, the Director-General of the Debt Management Office, Patience Oniha, assured investors of Nigeria’s commitment to prudent borrowing and sustainable debt management.
The Federal Government has continued to defend its reform agenda despite growing public discontent, insisting that the long-term gains will outweigh the current economic pains.
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