By Daniel Peters in Abuja.
The Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative has assured Nigerians of Steady Supply of refined petroleum products.
The decision was reached after a meeting earlier today, Sunday, to review developments in the downstream oil sector.
Our correspondent reports that the meeting, chaired by the Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, noted two recent issues: the purported suspension of the Naira-for-crude oil arrangement by the Dangote Refinery, which has since been amicably resolved, and the concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the Dangote Refinery.
The meeting had in attendance the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacheus Adedeji, who also chairs the Technical Committee, the 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 reaffirmed that there will be no disruption in the supply of refined petroleum products across the country.
The Spokesman for the Finance ministry, Mohammed Manga, said in a statement in Abuja that for the avoidance of doubt, the committee reassured that the crude oil for the Naira initiative will continue.
“It also assured that all outstanding issues, particularly the dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Dangote Refinery, are being addressed with urgency and in good faith”, Manga said.
“The federal government remains fully committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market”, the statement concluded.
Our correspondent in Lokoja,who monitored some filling stations in the state capital at about 8.30 a.m on Monday, reports that prices of petrol which hover around N880 per litre and slightly, remained the same while the said filling stations were devoid of long queue of vehicles.
Edited by Dada Ahmed.
