The Minister of State for Petroleum Resources, Heineken Lokpobiri, conducted an unscheduled inspection of petrol stations in Yenagoa, Bayelsa State, on December 28, 2024. The visit aimed to assess fuel availability and ensure compliance with pricing regulations following the removal of petrol subsidies by the Federal Government.
Lokpobiri, accompanied by officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), inspected stations including Rainoil at Edepie, an NNPC retail outlet at Edepie, Rano Oil at Opolo, and the NNPC mega station on the Sani Abacha Expressway. During the inspection, he verified that the petrol dispensed matched the prices displayed, which ranged between ₦999 and ₦1,050 per liter.
Highlighting the impact of deregulation, Lokpobiri explained that the price variations reflect a market-driven system, allowing competition to determine costs. He praised the administration of President Bola Tinubu for ensuring fuel availability during the festive season, contrasting it with past years marked by scarcity and price hikes during periods of high demand.
“This is the second consecutive festive season without fuel scarcity under this administration, thanks to the deregulation policy,” Lokpobiri stated, emphasizing the government’s commitment to maintaining stability in the downstream sector.
The minister’s surprise visits are part of a broader effort to monitor compliance with regulatory standards and sustain the gains of subsidy removal. The government continues to advocate for market-driven pricing mechanisms to enhance fuel availability and promote economic efficiency across the sector.
The move underscores the Federal Government’s resolve to reform the petroleum industry and ensure transparency in fuel distribution nationwide.
