Business
Bayelsa Petrol Dealers Defy Order On Pump Price
Petrol dealers in Yenagoa have defied the Federal Government’s directive fixing the pump price of petrol at N97 per litre.
A recent investigation by our reporter showed that two days after the new price was announced, almost all the major petrol stations in the city are still selling for between N140 and N150 per litre.
Only the NNPC mega station in Yenagoa, which was besieged by motorists and commercial motorcyclists, adjusted its pump price to N97 per litre in accordance with the government directive.
Our correpondent investigations also showed that some of the petrol stations deliberately closed down business to avoid selling their products at the new pump price. The situation had left buyers at the mercy of black marketers, many of whom are still making brisk gain selling at exorbitant rates.
A petrol attendant at one of the petrol stations in Yenagoa, who gave her name as Ruth Ogbu, told newsmen that they were yet to get any directive from their director on the reversal to the new pump price.
She said, “we are still selling at our old price of N150 because our manger said that our director travelled out of town. So until he returns and ask us to adjust, we cannot do so.”
But many motorists, who spoke to our source, condemned the attitude of the petrol dealers. They described them as economic saboteurs, who are out to maximise gain in defiance of the government directive and at the expense of the common man.
Mr. Paul Ufuro, a taxi-cab operator, lamented the travails of motorists, which he said, had been a frustrating experience ever since the removal of the subsidy on petrol.
“These dealers in Bayelsa are greedy. Many of them sold at N200 per litre during the days of the protest over the removal of subsidy. Even up till now, they are still selling at N150 when actually the president had directed them to adjust to N97,’’ he said.
Our source also further learnt that majority of the petrol stations that refused to sell at the new pump price are engaged in illicit business of selling to black marketers at night. The black marketers, in turn, sell to the public at higher rates.
Mr. Bony Izunaso, a petrol station manager, however, defended his co-managers and said that selling at the new pump price would amount to “bad business.’’
Izunaso explained that the dealers had bought the product at higher price during the previous week of the removal of the subsidy.
He said, “let us be frank, at least this is business. How do you want us to make gain by selling our old products at the new price? Actually, it is a good development when the president announced the new pump price, but it would have to take time to enable us sell off our old stock before any adjustment.’’
In his reaction, the Head of Operations of the Department of Petroleum Resources (DPR) in Bayelsa, Dr. Duncan Eradiri said DPR would ensure that dealers complied with government order.
“We are prepared to compel them to sell at the new price. Even today, we went out and sealed some of the fuel stations that have refused to comply with government’s directive.
“I must say that we will continue to monitor the situation and ensure total compliance by all dealers in the state,’’ Eradiri said.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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