Post #511

Nigeria's Fuel Regulator Chief Praises Tinubu’s Success in Cutting Fuel Imports 🇳🇬 According to Saidu Mohammed, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria has saved around 6 trillion naira ($4.4 billion) by reducing fuel imports in the first nine months of 2025 alone. The official attributes this success to President Tinubu’s reforms, particularly the full deregulation of the sector, foreign exchange harmonization, and the shift to trading oil in the national currency instead of dollars. Clearly, the "savings" refer to reducing the outflow of dollars abroad. ✅ While the reduction in imports is undeniably a success, it’s worth recalling that one of the steps in deregulating the fuel sector was the dismissal of the previous NMDPRA head in December last year — at the behest of Nigerian oil refining magnate Aliko Dangote. Looking ahead, Saidu Mohammed envisions a future where Nigeria eliminates fuel imports entirely: 🔴The supply chain landscape of the sector has depended significantly on importation, and that is the story we want to change, from 100 per cent importation to zero importation, and then we start climbing towards exportation. ➡️ Stay informed - @devilsbelow