The Federal Government has reassured Nigerians that there will be no disruption in the supply of refined petroleum products across the country.
This assurance followed a meeting of the Steering Committee on the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative, chaired on Sunday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The committee reviewed recent developments in the downstream oil sector, including the purported suspension of the naira-for-crude oil arrangement by the Dangote Refinery, which it noted had since been amicably resolved. It also addressed concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the refinery.
In attendance at the meeting were the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Chairman of the Federal Inland Revenue Service (FIRS) and Technical Committee Chair, Mr. Zacch Adedeji; as well as representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian National Petroleum Company (NNPC) Ltd., Central Bank of Nigeria (CBN), Afreximbank, and the Dangote Refinery.
The committee reaffirmed the continuation of the crude-for-naira initiative and gave assurances that all outstanding issues, particularly the dispute between PENGASSAN and the Dangote Refinery, are being addressed urgently and in good faith.
“The federal government remains fully committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market,” the committee stated.
