The Federal Government has restated its commitment to keeping petroleum products flowing across the country, dispelling fears of scarcity following recent concerns in the downstream oil sector.
This assurance came after a meeting of the Steering Committee on the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
At the meeting, officials addressed the reported suspension of the Naira-for-crude arrangement with the Dangote Refinery. Government sources confirmed that the matter had been resolved amicably, clearing doubts over the continuity of the initiative.
The session also touched on grievances raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the refinery’s operations.
Among those present were the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, who also heads the Technical Committee; as well as representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NNPC Ltd., the Central Bank of Nigeria (CBN), Afreximbank, and Dangote Refinery.
The committee gave assurances that Nigerians will not experience disruptions in petroleum supply. It further emphasized that the Naira-for-crude initiative remains intact and promised to tackle all outstanding issues, particularly those involving PENGASSAN and Dangote Refinery, in good faith.
The government reaffirmed its resolve to guarantee energy security, safeguard consumers, and keep the domestic fuel market stable.
Source: Roma News
