The Nigerian Presidency has made it clear that President Bola Tinubu will not intervene in the ongoing fuel price conflict between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL). This statement was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, during a briefing at the Presidential Villa, Abuja. Onanuga emphasized that both Dangote Refinery and NNPCL operate independently within a deregulated market and must resolve their differences without government involvement.
Onanuga highlighted that the deregulation of the Premium Motor Spirit (PMS) market means both Dangote Refinery and NNPCL are private entities functioning independently. NNPCL, despite being owned by the government, is a limited liability company and is expected to compete like any other player in the market. Whatever controversy both of them are having is their own problem,he remarked.
Instead of intervening, the Federal Government is focusing on promoting alternative energy sources, especially Compressed Natural Gas (CNG). According to Onanuga, CNG provides a cheaper fuel option, and the government intends to subsidize the conversion costs for vehicles transitioning from petrol to CNG.
In addition to promoting alternative energy, the government plans to encourage state governments to establish urban transportation systems, reducing overall transportation costs across Nigerian cities. Onanuga cited Lagos as the only state currently operating an urban transport system, stating that all modern cities should have similar infrastructure in place. This initiative is aimed at reducing transportation costs, which have risen significantly following the removal of fuel subsidies.
Onanuga revealed that the government has plans to make CNG more accessible by subsidizing the conversion of private vehicles from petrol to CNG. For commercial transporters, conversion costs will be nearly free, while private car owners will receive significant financial support to make the switch.
In other developments, Onanuga confirmed that President Tinubu intends to reshuffle his cabinet soon, though no specific timeline has been provided. The President has directed his ministers to actively promote the administration’s achievements and has indicated that the reshuffle will be performance-based. Ongoing evaluations are being carried out, and decisions will be informed by empirical data from the Central Delivery Coordination Unit, led by Hajia Hadiza Bala Usman.
The administration is also prioritizing education funding through an amendment to the Tertiary Education Trust Fund (TETFUND) Act. According to Onanuga, 30% of TETFUND's resources will be allocated to the Nigerian Education Loan Fund (NELFUND) to support student loans. This move will help ensure that more Nigerian students have access to higher education, regardless of their financial background. Funds that were previously used for infrastructure projects will now be directed toward student support.
During the briefing, it was also reiterated that President Tinubu had previously committed to channeling funds recovered from illegal activities into NELFUND, further strengthening financial aid for students.
Finally, the Presidency hinted at a forthcoming executive bill that will seek to amend the National Identity Management Commission (NIMC) Act. If passed, the amendment will require all residents of Nigeria, including foreigners, to obtain a National Identity Number (NIN), making them eligible for taxation. This move is part of the government’s broader strategy to improve national security and enhance revenue collection through a more robust identification system.
The Nigerian government is clearly shifting its focus toward fostering a more self reliant and sustainable economy. While it is staying out of the Dangote NNPCL fuel price dispute, it is taking active steps to promote alternative energy sources, revamp education funding, and improve infrastructure. As President Tinubu moves closer to reshuffling his cabinet, all eyes will be on the performance of key ministries and the progress of the administration’s various reforms.