The National Association of Polytechnic Students (NAPS) has strongly condemned the continued sale of Nigerian crude oil to local refineries at international benchmark prices, warning that the policy contributes to the persistent rise in fuel prices across the country.
In a press release issued on March 11, 2026, the student body’s national leadership expressed concern over the increasing cost of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), stating that the situation has placed significant economic pressure on Nigerians.
The statement was issued under the leadership of Comrade Eshiofune Paul Oghayan, President of NAPS, and signed by Comrade Ifeanyi Origbo, Chief Press Secretary of the association.
Students Question Nigeria’s Fuel Pricing Reality
According to NAPS, many Nigerians are puzzled by the continuous increase in fuel prices despite the country being one of the world’s major crude oil producers and host to one of the largest refineries globally, the Dangote Petroleum Refinery.
The association noted that global oil market volatility has played a role in the current situation. International crude oil prices recently surged from around $60 per barrel to nearly $120 per barrel, largely due to geopolitical tensions and disruptions in global supply chains.
Shipping costs have also reportedly increased significantly, with freight expenses rising from about $800,000 to roughly $3.5 million per shipment, further increasing the cost of refining and distribution.
However, NAPS emphasized that the major concern lies in the fact that local refineries still purchase Nigerian crude oil at international market rates, even under Nigeria’s crude-for-naira framework.
Concerns Over Limited Crude Allocation to Local Refiners
The association further revealed that the Dangote Refinery currently receives only about 28% of its crude oil supply from the Nigerian National Petroleum Company Limited (NNPC), with the highest recorded allocation reaching approximately 32%.
Because of this limited domestic supply, the refinery reportedly sources a significant portion of its crude oil from international traders and intermediaries at global market prices.
NAPS described the situation as a “painful paradox” where Nigeria exports crude oil while domestic fuel prices remain tied to global market fluctuations.
Students Criticise Suspension of Fuel Import Tariff
The student association also expressed concern over the Federal Government’s decision to suspend the 15% import tariff on PMS and AGO, a policy originally introduced to encourage domestic refining and reduce fuel importation.
According to NAPS, the suspension sends mixed signals to investors, particularly those who have committed billions of dollars to Nigeria’s refining sector.
The group argued that policies favouring fuel importation over domestic production could weaken investor confidence and slow Nigeria’s transition toward energy independence.
NAPS Demands Immediate Policy Action
The association called on the Federal Government to take urgent steps to address the issue, including:
- Allocating adequate crude oil supply to local refineries, especially the Dangote Refinery.
- Establishing a domestic crude pricing framework that prioritizes national economic stability.
- Reinstating the 15% fuel import tariff to protect local refining investments.
- Developing a comprehensive national energy security strategy to shield Nigeria from global oil shocks.
- Gradually eliminating dependence on imported fuel.
7-Day Ultimatum Issued
NAPS issued a seven working-day ultimatum to the Federal Government to address the concerns raised and implement reforms aimed at stabilizing fuel prices.
The association warned that failure to respond within the specified period could lead to peaceful nationwide demonstrations by Nigerian students, including protests in the Federal Capital Territory (FCT) and other strategic locations.
Students Vow to Defend National Economic Interests
NAPS concluded by stressing that Nigerian students have historically played a crucial role in national advocacy and democratic struggles, noting that they will not remain silent on policies that could threaten the economic future of young Nigerians.
The association called on government authorities to adopt policies that prioritize national energy security, economic stability, and the welfare of citizens.
Source
Press Release issued by the National Association of Polytechnic Students (NAPS) National Headquarters, signed by:
: Comrade Ifeanyi Origbo (Public Son Of NAPS), Chief Press Secretary National Association of Polytechnic Students (NAPS)
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