FG Assures Nigerians Of Steady Supply Of Petroleum Products

The Federal Government has pledged a consistent supply of refined petroleum products nationwide.

The assurance was given after the Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative met on Sunday to review developments in the downstream oil sector.

This was disclosed in a statement by the Director, Information and Public Relations, Ministry of Finance, Mohmmed Manga.

The meeting, chaired by the Minister of Finance and the Coordinating Minister of the Economy, 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.”

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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), Zacch 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.

The Committee reaffirmed that there will be no disruption in the supply of refined petroleum products across the country.

The statement read: “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.

“The federal government remains fully committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market.”