Economy
FOREX: CSOs urge CBN to ensure level playing ground for oil marketers
A consortium of Civil Society Organisations (CSOs) has asked the Central Bank of Nigeria (CBN) to ensure level playing ground for all oil marketers in accessing Foreign Exchange (FOREX) for importation of petroleum products.
The group disclosed this in a communique relased after its meeting in Abuja, on Tuesday.
The News Agency of Nigeria (NAN) recalls that the consortium formed in April 2020, spearheaded by the Nigeria Natural Resource Charter (NNRC) comprises Civil Society Legislative Advocacy Centre (CISLAC), BudgIT and Connected Development (CODE).
Others are Media Initiative for Transparency in Extractive Industries (MITEI), OrderPaper Advocacy Initiative, Women in Extractives (WiE), Dataphyte, Spaces for Change, Extractive 360, Centre for the Study of the Economies of Africa (CSEA) and Youth Forum on Extractive Industry Transparency Initiative (Youth Forum on EITI).
Also, Publish What You Pay (PWYP), Africa Network for Environment and Economic Justice (ANEEJ), African Centre for Leadership Strategy and Development (CentreLSD), Centre for Development Support Initiatives (CEDSI), Centre for Transparency Advocacy (CTA) and Koyenum Immalah Foundation.
It said that CBN must ensure that all marketers importing Premium Motor Spirit (PMS) also known as petrol must be treated the same way as the Nigerian National Petroleum Corporation (NNPC).
“The relevant authorities, especially the CBN should ensure a level-playing field for all importers of PMS and not place the NNPC at an advantage over others, ” it said.
It also called on the NNPC to take urgent practical steps to reverse the fortunes of the loss making refineries as revealed in its published 2018 Audited Reports of its subsidiaries.
“The refineries remain cost centres that the Nigerian government cannot afford given the impact of COVIV-19 and other fiscal pressures on its economy.
“The Nigerian government should create an enabling environment for the private sector to contribute to the efficient running of the refineries so that Nigerian can reach its domestic refining goals,” it said.
The group further called on the President and the Minister of Petroleum Resources to demonstrate honest commitment to the deregulation efforts by expunging the laws that entrench the potential of returning to a subsidy regime and pre-deregulation state.
It said that government should repeal the law establishing the Petroleum Products Pricing Regulatory Agency (PPPRA) and other agencies to ensure full deregulation of the downstream oil sector.
“The government repeal the PPPRA Act, the PEF(M)B Act and the Price Control Act specifically, section 6(1) of the Petroleum Act, Schedule 1 of the Price Control Act, all acts that ensure a potential of returning to a price fixing regime and demonstrate to the Nigerian people that the declaration of full deregulation’ is merely a statement of intent and not yet honored.
“There is need for the Federal Government to commit to the sustainability of the deregulation regime by entreating it in law either through a stand-alone legislation, or through appropriate clauses integrated into the Petroleum Industry Bill (PIB) will allow for the sustainability of the no-subsidy regime.
“While we await appropriate legislation, we require the government to clarify the role of the Petroleum Support Fund in the new deregulation regime. Clarity is required about how that fund is being managed, whether the over-recovery sums were deposited there and how they are epected to be spent,” it said.
It also urged the Ministry of Petroleum Resources to “back up its deregulation policy statement by empowering appropriate agencies including the Federal Competition and Consumer Council to take over the consumer protection interests of Nigerians.
It said this might be adversely taken advantage of in a deregulated downstream sector to protect the interests of the people would not suffer exploitation in the hands of profiteering marketers.
On the issue of ameliorating the immediate effects of the removal of petrol subsidy, the group said government should channel the revenues used for subsidy to improve the lives of Nigerians and not the rich.
It noted that this could be achieved by investing in enablers of economic growth and development such as development of rural roads, education, health services and agriculture.
According to the group, if the NNPC must remain a player in the market, it must strive to operate under the same conditions and rules as other players in the sector regulated only by the prevailing market forces and competition.
It commended government for providing initial regulation to support the deregulation efforts in June 2020.
“We encourage the government to ramp up its engagements with the public to improve their awareness and understanding of the deregulation process and all it portends for the Nigerian people.(NAN)
Economy
FGN Poised To Dismantle Kidnap Economy – General Laka

From Lateef Taiwo
The Coordinator, National Counter Terrorism Centre, Office of the National Security Adviser (NCTC-ONSA), Major General Adamu Laka, has reaffirmed the commitment of the Federal Government of Nigeria (FGN) to ending kidnap economy in the country.
General Laka stated this while briefing newsmen on the activities of the Multi-Agency Anti-Kidnap Fusion Cell in collaboration with the United Kingdom – National Crime Agency on Tuesday in Abuja.
He said the centre had officially launched the State Expansion Programme of the Multi-Agency Anti-Kidnap Fusion Cell, bridging a critical gap between national security coordination and state-level tactical response.
The National Coordinator noted that kidnapping in Nigeria was no longer a random crime, but an industry being ran by sophisticated and well-armed criminal networks that thrive on fear and fund violence through ransoms.
According to him, the programme was aimed at dismantling that economy by connecting national strategy with boots-on-ground action.
He said the fusion cell was created in partnership with the United Kingdom’s National Crime Agency (NCA) to facilitate high-profile rescues and breaking up kidnapping rings across the country.
The national coordinator noted that kidnapping in Nigeria was no longer a random crime, but an industry being ran by sophisticated and well-armed criminal networks that thrive on fear and fund violence through ransoms.
According to him, the programme was aimed at dismantling that economy by connecting national strategy with boots-on-ground action.
He said the fusion cell was created in partnership with the United Kingdom’s National Crime Agency (NCA) to facilitate high-profile rescues and breaking up kidnapping rings across the country.
General Laka noted the cell had played key roles in supporting rescue operations, disrupting kidnapping networks, and improving interagency coordination.
According to him, experience has shown that while national coordination is crucial, state-level engagement is also indispensable.
“Too often, real-time intelligence, local knowledge, and operational readiness reside with field commands, while national coordination can only succeed when it is informed by ground realities.
“This is the primary purpose of this programme – to close the gap between national-level coordination and state-level response. Essentially, to build direct operational linkages between the Cell and state commands across the country,” Laka said.
Economy
Food Security: Sanwo-olu Commended Over Launch of ₦500bn ‘Produce for Lagos’

The Good Governance Campaign Forum (GGCF) has praised the Lagos State Government for launching the “Produce for Lagos” programme, describing this initiative and its ₦500 billion Offtake Guarantee Fund as a brilliant solution to the food insecurity challenges the nation faces.
The Forum issued this commendation in a statement signed by its Coordinator, Rahman Suleiman, on Wednesday, following the official unveiling ceremony of the program earlier in the week.
The program aims to transform Lagos’ food system and reduce the state’s dependency on external food sources, receiving positive recognition both within and outside the state for the Sanwo-Olu-led government’s efforts.
According to Suleiman, the initiative is timely and represents a pioneering collaboration between the Lagos State Government, the private sector, the Lagos Food Systems Infrastructure Company (LAFSINCO), Ekolog, and the Lagos Bulk Trading Company. He noted that this model is designed not only to enhance food production and logistics across the state but could also serve as a scalable framework for improving livelihoods and national resilience.
Suleiman shared insights from the Forum’s sampling of public opinion in Lagos and other states, indicating that people are pleased with the Lagos State Government’s strategic programs aimed at tackling hunger and starvation. He emphasized that a key component of the “Produce for Lagos” program is its data-driven approach, which will help address agricultural inefficiencies and strengthen value chains.
“Food security is a collective responsibility that we cannot afford to neglect as a nation,” Suleiman stated. “We are grateful to God for providing us with a leader like Sanwo-Olu, who is visionary, forward-thinking, and compassionate toward ordinary people.”
He commended Governor Sanwo-Olu for consistently setting benchmarks and leading by example in subnational governance. These achievements underscore the economic growth, infrastructural development, and urban planning efforts of the Lagos government.
“Governor Sanwo-Olu is a trailblazer; he has done exceptionally well, and we fully support his programs and policies. His work over the past six years speaks for itself,” he added.
Suleiman noted that this initiative, a partnership between the state government and the private sector, is expected to significantly boost agricultural production.
During the launch, Governor Sanwo-Olu also announced the deployment of a fleet of 150 cold and dry trucks—the largest of its kind—in partnership with the private sector.
Business mogul Tony Elumelu, who supported the project with ₦25 billion, stated that food security is crucial and expressed satisfaction with the collaboration between Lagos and other participating states.
Other prominent individuals at the event included Amir Kamel, Vice President of Afreximbank, and Michel Deleen, the Consul General of the Kingdom of the Netherlands, among other dignitaries.
Economy
Constitution Amendment: Group Urges NASS, FG To Prioritise Restructuring, Regionalism

… rejects the creation of new states
A prominent youth organization, the Youth Bureau, has urged the National Assembly to prioritize genuine restructuring of Nigeria, emphasizing regional autonomy and the establishment of State Police without further delay. This call comes as the legislature reviews the nation’s constitution.
The demand was articulated in the group’s Position Paper presented to the National Assembly Committee on Constitutional Amendment for the South-West Zone, which convened recently in Lagos.
In a statement signed by its Southern Coordinator, AbdulRahman AbdulRazaq, on Thursday in Lagos, the Youth Bureau also rejected calls for the creation of new states. The group warned that the Supreme Court’s judgment on local government contradicts their position, asserting that its implementation should be set aside. They believe only the State Government should have the authority to create local governments.
AbdulRazaq urged President Bola Ahmed Tinubu to prioritize comprehensive restructuring, as it is fundamental to effective governance and development. He encouraged the National Assembly Committee on Constitutional Amendment to make bold decisions that will have a positive impact on the populace.
He pointed out that the regional governments established in the late 1960s in Nigeria facilitated healthy governance and development, particularly under the Action Group government led by Chief Obafemi Awolowo in the Western Region. During that period, significant advancements were made in free education initiatives, healthcare infrastructure, industrialization, and overall infrastructure growth.
AbdulRazaq noted that the abolition of regional autonomy by the late General Aguyi Ironsi led to a unitary system of government, which resulted in excessive concentration of power in the central government, a lack of adherence to the rule of law, and restricted resource control and financial autonomy for the regions.
The Youth Bureau’s position paper includes the following demands and recommendations for the National Assembly Committee on Constitutional Amendment:
Our Demands
We urge the National Assembly Committee to consider the following:
- Genuine restructuring of the country based on regional autonomy.
- No need for the creation of additional states.
- The formation of State Police without further delay.
- Recognition that local government is a component of state government; the Supreme Court’s judgment on local government contradicts this principle, and its implementation should be set aside. Only the State Government should have the authority to create local governments.
Conclusion
We believe that a decentralized governance system founded on devolution and decentralization will ensure political and fiscal autonomy for its component units and promote equity among them. We urge President Bola Ahmed Tinubu to prioritize comprehensive restructuring and encourage the National Assembly Committee to make bold decisions that positively affect the citizenry.
Recommendations
- Decentralize governance in theory, practice, content, and character.
- Ensure equity among the component units.
- Guarantee political and fiscal autonomy for the regions.
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