Oil Marketers Rally Behind Federal Government’s Downstream Sector Reforms in Strategic Meeting with Finance Minister

Top Nigerian oil marketers pledge unwavering support for the Federal Government’s downstream petroleum reforms

In a move seen as a major endorsement of the Federal Government’s ongoing economic and energy reforms, key players in Nigeria’s oil marketing industry held a high-level meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja on Friday. During the meeting, the marketers threw their weight behind critical policies aimed at transforming the downstream petroleum sector, while pledging their continued support and collaboration with the government.

The strategic engagement, which took place in the Federal Capital Territory, was attended by a delegation of leading oil marketers led by Mr. Abdulkabir Adisa Aliu, the Chief Executive Officer of Matrix Energy Limited. Other notable members of the delegation included Alhaji Yakubu Maishanu, Chairman and CEO of AYM Shafa Limited, and Alhaji Auwalu Abdullahi Rano, CEO of A.A. Rano Nigeria Limited.
According to a statement released by Mohammed Manga, Director of Information and Public Relations, Federal Ministry of Finance, the meeting focused on reviewing the impact of the Federal Government’s downstream policies, fostering stronger public-private partnerships, and consolidating ongoing market stability.

The Federal Government’s downstream reforms over the past two years have included bold and transformative measures, chief among them the complete removal of the petrol subsidy and a policy to enable local refineries to purchase crude oil using the Naira. These actions are seen as crucial to eliminating market distortions, promoting efficiency, and creating a more transparent, investment-friendly oil sector.
The oil marketers expressed strong support for these reforms, stressing that the shift to a subsidy-free regime had already begun yielding positive outcomes. According to the delegation, private oil marketers now supply an estimated 20 million liters of petrol daily to the Nigerian market without requiring government subsidies, thereby easing the fiscal burden on the national treasury.
This development, they noted, is a strong testament to the capacity of the private sector to drive energy supply efficiently, competitively, and sustainably under a liberalized market structure.

During the meeting, the oil marketers emphasized their commitment to ensuring market stability, expanding private investment in the sector, and continuing to support the Tinubu administration’s broader economic reform agenda.
They highlighted some visible impacts of the reforms, including

• A smoother transition away from petrol subsidies
• Enhanced domestic fuel supply chain efficiency
• Improved stability of the foreign exchange market
• Gradual reduction in pump prices in select locations

According to the marketers, these gains illustrate the importance of consistent and investor-friendly policies. They urged the government to continue to provide policy clarity and regulatory support to encourage more investments, particularly in emerging energy solutions.

As part of Nigeria’s energy diversification and clean energy drive, the marketers also reaffirmed their readiness to accelerate investments in Compressed Natural Gas (CNG) infrastructure. This initiative aligns with the Federal Government’s national energy transition strategy, which seeks to reduce dependency on petrol and diesel while encouraging the use of cleaner, cheaper, and locally abundant energy sources.
They noted that expanding the use of CNG in transportation and power generation will not only help reduce carbon emissions but also cushion Nigerians from the volatility of international oil prices.

In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed appreciation for the delegation’s leadership, patriotism, and ongoing contributions to national development.
He acknowledged the pivotal role that private sector operators in the downstream petroleum space have played in ensuring energy security, driving innovation, and supporting macroeconomic reforms.
Mr. Edun reiterated the government’s unwavering commitment to providing a stable, transparent, and growth-oriented policy environment, one that encourages sustainable private investment, fosters competition, and accelerates inclusive development.

Minister Edun further noted that the engagements with key stakeholders such as oil marketers are part of a broader vision under President Bola Ahmed Tinubu’s Renewed Hope Agenda, a comprehensive development framework aimed at revitalizing the Nigerian economy, attracting investments, and improving the standard of living for all citizens.
According to the minister, collaborative efforts between the public and private sectors are critical in building a resilient, forward-looking, and competitive petroleum industry that meets the needs of Nigeria’s growing population.

“This engagement reflects the deepening partnership between public and private sector actors in delivering a more competitive, resilient, and forward-looking energy market for all Nigerians,” he stated.

As Nigeria continues on its path of reform and renewal, the support and alignment of key stakeholders like oil marketers will remain vital. The ongoing transition from a subsidy-dependent model to a liberalized and market-driven sector requires unwavering commitment, regulatory transparency, and continued collaboration between government agencies and private operators.
The pledges made during Friday’s meeting signal a new era of trust, cooperation, and shared responsibility between the federal government and industry players. It also reinforces the fact that sustainable energy development in Nigeria will be driven by both sound policy and active private sector participation. FG Urges Oil Firms to Boost Production
With the right mix of policy clarity, infrastructure investment, and regulatory consistency, the downstream sector is poised to deliver long-term economic benefits, creating jobs, reducing import dependency, and strengthening Nigeria’s energy independence.

By PrimeLineInfo