ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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PRESIDENT TINUBU NOMINATES RABIU ABDULLAHI UMAR AS NEW CHIEF EXECUTIVE OF NMDPRA. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE


PRESIDENT TINUBU NOMINATES RABIU ABDULLAHI UMAR AS NEW CHIEF EXECUTIVE OF NMDPRA


President Bola Ahmed Tinubu, GCFR, has approved the removal of Mr Saidu Mohammed as the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in the public interest.


The President has also approved the nomination of Mr Rabiu Abdullahi Umar as the new Chief Executive of the NMDPRA. The appointment is subject to Senate confirmation.


This decision, made pursuant to the Petroleum Industry Act 2021, is aimed at strengthening regulatory effectiveness in the midstream and downstream petroleum sector, in line with the Renewed Hope Agenda.


Mr Umar is a seasoned executive with over 25 years of experience across the energy, manufacturing, and infrastructure sectors, and a proven track record in strategic leadership, operational transformation, and large-scale project delivery.


He is a graduate of Accounting from Bayero University and an alumnus of Harvard Business School. 


Pending Senate confirmation of the new nominee, the most senior official of the NMDPRA will oversee operations in an acting capacity.


President Tinubu thanks the outgoing Authority Chief Executive for his service and wishes him well in his future endeavours.


The President remains committed to ensuring capable leadership in key regulatory institutions to advance energy security, sector reform, and sustainable economic growth.


 

Bayo Onanuga  

Special Adviser to the President  

(Information & Strategy)  

April 29, 2026

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