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Market Forces, Not Short Supply Responsible For Rising Petrol Prices — NNPCL CEO, Mele Kyari

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Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, says market forces are responsible for the rising pump prices of Premium Motor Spirit (PMS) known as petrol.

Kyari made this known on Tuesday afternoon after a meeting with Vice President Kashim Shettima at Aso Rock, Abuja.

He said with deregulation of the oil sector, market realities will force the prices of petrol up sometimes and at other times force the prices down.

The NNPCL boss said the increase in the price per litre of petrol from over N500 to N617 is not a supply issue, assuring Nigerians that the country has “robust supply” of the vital commodity.

Kyari said Nigeria has over 32 days of supply and not short of petrol.

He said the marketing team of the NNPCL is responsible for price adjustment and that the team “adjust prices depending on market realities”.

He said, “This is really what is happening; this is making sure that the market regulates itself so that the prices will go up and sometimes, it will come down also.”

PMS is selling for ₦617 in Abuja, and ₦575 in Lagos.

However, Kyari has assured Nigerians that the country is not in short supply of the essential commodity, adding that the rising price of petrol has nothing to do with supply difficulties.

“There is no supply issue; when you go to the market, you buy the product. You come to the market and sell it at the prevailing market prices, nothing to do with supply issues.

“We have robust supply; we have over 32 days of supply within the country,” he said.

On his message to Nigerians lamenting the skyrocketing prices of petrol, the NNPCL boss said allowing market realities to determine the prices of petrol is the way to go.

“What I know is that the market forces will regulate the market; prices will go down sometimes, sometimes it will go up, but there will be stability of supply. I am also assuring Nigerians that this is the best way to go forward so that we can adjust prices,” he said.

Also, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, who addressed reporters after Kyari, corroborated the NNPCL boss’ position on market forces.

BIG STORY

Mental Health: Obasa Advocates Collective Responsibility, Collaboration With Lawmakers [PHOTOS]

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Given the grimness and prevalence of mental health issues across the country, the Speaker of the Lagos State House of Assembly, RT. Hon. Mudashiru Obasa has advocated inter-sectoral collaboration with the assembly and collective responsibility by agencies, individuals, and institutions.

Speaking in his capacity as chairman at the Seventh Public Lecture of the Board of Fellows, Pharmaceutical Society of Nigeria (PSN), held Tuesday, July 2, 2025, at the Festival Hotel, Amuwo-Odofin, Lagos, Obasa described the theme, Mental Health: A Basic Human Right Crucial to Personal, Community, and Socio-Economic Development, as timely and globally relevant.

He opined, “We live in times where the mental health of individuals is increasingly becoming a matter of public concern because globally, there is a rising incidence of mental health disorders, and unfortunately, Nigeria is not exempted.”

The Lagos Speaker reckoned that mental health is crucial to personal and community development because, “It is the bedrock upon which personal growth and achievements are built. For our nation to thrive, we need citizens who are mentally sound and can contribute meaningfully to national development.

“Socio-economic development is intertwined with mental health. A nation with a high burden of mental health disorders will undoubtedly suffer a decline in productivity, a decrease in the quality of life, and a strain on health resources.”

Conversely, he said that a community with a high prevalence of mental health disorders is not only destabilised but also lacks progress. Therefore, he continued, “It is important that we take collective responsibility to ensure that our communities are mentally healthy. As a nation, we must pay keen attention to mental health and integrate it into our public health policies.”

Obasa recalled that the issue of mental health is very dear to him, which encouraged the enactment of the Lagos State Mental Health Service Law of 2018 during his first term as Speaker. The law provides for the protection and care of individuals with mental health conditions and substance abuse, stresses the rights of patients, including the right to treatment close to their domicile, and the same rights as physically ill persons. It also focuses on integrating mental health services into primary healthcare, providing comprehensive coverage, and fostering intersectoral collaboration.

However, Obasa noted that professional bodies like the PSN are not collaborating enough with lawmakers to drive change. “We must advocate for policies that promote mental health care, combat stigma, and support initiatives to enhance mental well-being. Together, we can ensure that mental health is recognized as a basic human right essential to personal, community, and socio-economic development,” he concluded.

Brig. Gen. Buba Marwa (Rtd.), Chairman/CEO of the National Drug Law Enforcement Agency (NDLEA) and special guest of honour, linked the rise in mental health issues to fake drugs and substance abuse. He described mental health as a neglected aspect of public health and called for increased awareness and sensitisation programs by the PSN.

In his address, Pharm. Uche Akpakama, chairman, Board of Fellows, Pharmaceutical Society of Nigeria, said, “It is documented that more than a quarter of the Nigerian population has mental health issues, exacerbated by the current socio-economic situations, including extreme poverty, internal displacement, insecurity, and unemployment.” Akpakama said he hoped that the public lecture would address the current state of mental health in Nigeria, the role of pharmacists, other health professionals, and proffer strategies for promoting mental health awareness.

The keynote speaker, Dr Gbonjubola Abiri, a Consultant Psychiatrist and CEO of Redi-Med Consulting, a medical consultancy firm, said having established the grimness of the situation, “the drive now is to ensure mental health promotion and the prevention of mental health disorders in the general population, while also ensuring that persons with mental disorders are given the best attention to manage their health so that they can live their best lives despite their conditions.”

Pharm. Gbenga Falabi, chairman of the planning committee, declared that the annual lecture serves as a platform for knowledge-sharing and developing strategies to promote mental health awareness. “Today’s insights will enhance our understanding of mental health’s critical role in personal, community, and socio-economic development,” he said.

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BIG STORY

BREAKING: Sanwo-Olu Receives 60th Birthday Special Publication From Lanre Alfred At Lagos House [PHOTOS]

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It was all praise and admiration as celebrated author and media consultant, Lanre Alfred, formally presented his newly published special publication on the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, titled “The Man Who Carried a City”, at a modest but poignant gathering held at the Lagos House, Marina, today.

The gathering, witnessed by a select group of the Governor’s cabinet members and close aides, marked a symbolic celebration of Sanwo-Olu’s 60th birthday on June 25, 2025. Present to honour the occasion was also Wale Olaleye, Deputy Editor of THISDAY Newspaper, who penned the foreword of the book, and Kayode Olashile-Alfred, THISDAY columnist and a media and hospitality entrepreneur.

A visibly delighted Governor Sanwo-Olu received the commemorative volume with joy and deep gratitude, expressing astonishment at the richness of the work and the devotion behind it. “I am genuinely impressed by the quality of this book,” he remarked, commending Alfred’s bold initiative, which was undertaken without any financial or material incentive. “It is rare to see this level of literary commitment that is driven purely by admiration and civic appreciation.”

Alfred, renowned for his lyrical prose and insightful portraits of Nigeria’s high achievers, revealed that he embarked on the book project 18 months ago, moved by a deep admiration for Governor Sanwo-Olu’s revolutionary governance and resilient leadership, particularly during moments of turbulence.

“Governor Sanwo-Olu’s journey is not just a political story, it is a deeply human one,” Alfred said during the presentation. “This is a man who steered Lagos through the chaos of COVID-19, the trauma of #EndSARS, and the daily complexities of managing Africa’s largest subnational economy, without losing the human touch.”

He described the special publication as a literary monument to a governor who has governed with empathy, deliberateness, and vision. “I wanted to ensure that such a legacy is preserved beyond fleeting headlines or public memory. ‘The Man Who Carried a City’ is not a tribute to power, but to purpose. It is an archive of grace under pressure, of governance without theatrics, of leadership defined by listening rather than loudness.”

In his remarks, Wale Olaleye described the book’s narrative as “probing and profound,” noting that Alfred’s portrait of Sanwo-Olu goes beyond celebration. “It is also a mirror,” he said, “a reminder of what true public service can look like in our time.”

Kayode Olashile-Alfred, who has followed Alfred’s literary career closely, lauded the work as “a powerful addition to the canon of modern Nigerian political special publication,” adding that “Dr Alfred has succeeded in blending scholarship, poetry, and reportage into a narrative that preserves not just a man’s record, but his essence.”

“The Man Who Carried a City” is published by Old English Partners and spans over 326 glossy pages richly adorned with evocative photography and meditative prose. From Sanwo-Olu’s formative years and quiet rise through public service, to his tumultuous yet steady-handed tenure as governor, the book distils a lifetime of service into a series of vivid, emotionally intelligent portraits.

The book’s evocative chapters—“The Clockmaker’s Spawn,” “Lagos in His Lungs,” “The Politics of Listening,” “2020… The Year Lagos Trembled,” and “Legacy as a Living Covenant” trace policy achievements and the philosophical, emotional scaffolding of Sanwo-Olu’s public life. A chapter titled “Ibijoke” presents the First Lady’s quiet strength as a stabilising pillar in the governor’s journey.

Alfred noted that in an era where political narratives are often distorted or forgotten, he considers it a duty to document leaders who have served meaningfully. “Nigeria’s problem is not the absence of worthy leaders,” he said, “it is our failure to preserve their stories. Sanwo-Olu’s calm through crisis, his civic fidelity, and his silent sacrifices deserve a place in our national archives.”

The Man Who Carried a City is both a birthday gift and a civic reflection; a reminder that in turbulent times, quiet courage and steadfast service still matter.

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BIG STORY

JUST IN: Atiku, Obi, El-Rufai, Opposition Coalition Leaders Arrive For ADC Unveiling

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Leaders from different opposition parties are converging at the Yar’Adua Centre in Abuja for a press briefing organised by the African Democratic Congress (ADC).

Those already present include former Vice-President Atiku Abubakar; Peter Obi, the 2023 presidential candidate of the Labour Party (LP); Nasir el-Rufai, former Kaduna governor; and Dino Melaye, a former senator.

Also in attendance are Solomon Dalung, former minister of youth and sports; media figure Dele Momodu; ex-senator Gabriel Suswam; and Ireti Kingibe, a current LP senator.

Others present include Rotimi Amaechi, ex-governor of Rivers; and Emeka Ihedioha, former deputy speaker of the house of representatives.

The event has drawn participation from members of the Peoples Democratic Party (PDP), the Social Democratic Party (SDP), and the LP.

Former Senate President David Mark led other coalition members into the hall as the programme began.

Also in attendance are Rauf Aregbesola, former Osun governor and interim national chairman of the ADC; and Aminu Tambuwal, ex-governor of Sokoto.

Earlier in the day, the ADC coalition unveiling faced a disruption after the original venue cancelled the booking at the last minute.

The event was initially planned for the Wells Carlton Hotel and Apartments in Asokoro, Abuja.

Just hours before the scheduled time, organisers were notified that the hotel would not proceed with hosting the event.

A screenshot of the hotel’s notice, shared by Momodu on Instagram, cited an “internal compliance matter” as the reason for the cancellation.

Following the development, the coalition secured the Yar’Adua Centre as an alternative venue.

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