Business
NMDPRA Warns Fuel Retailers Against Illegal Sales Amid Abuja Scarcity
The Federal Government, via the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued a stern warning to retailers of Premium Motor Spirit (PMS), commonly known as petrol, amid ongoing shortages in the Federal Capital Territory (FCT), Abuja, and the surrounding states of Nasarawa and Niger.
This advisory was communicated through a statement posted on NMDPRA’s official X account.
The regulatory body has called on fuel retail stations to cease transactions with individuals involved in the illicit sale of petrol, including those dealing in fuel stored in jerrycans.
The NMDPRA has made it clear that filling stations found engaging with illegal traders will face severe penalties, including the potential suspension of their retail licenses. This action is part of a broader crackdown aimed at curbing the unauthorized distribution of petroleum products.
The warning comes as fuel scarcity continues to plague the nation’s capital. Most filling stations in Abuja have halted fuel distribution, leaving only a few operational.
For example, along the Kubwa Expressway, only outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) were dispensing fuel on Friday, causing significant queues at these locations.
Earlier, two weeks ago, NNPCL spokesperson Olufemi Soneye attributed the shortage to disruptions in the unloading processes of several vessels. Despite this explanation, fuel scarcity persists as a recurring issue with no lasting resolution in sight.
In light of these ongoing challenges, Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), recently advocated for the establishment of a dedicated task force to address the persistent fuel shortages in Nigeria.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
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