Mkpoikana Udoma
Port Harcourt — The Federal Government has assured Nigerians that there will be no disruption in the supply of refined petroleum products, despite recent controversies surrounding the Naira-for-crude oil initiative and the dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the Dangote Refinery.
This is as Dangote Refinery had earlier suspended the sale of petrol in Naira, attributing the development to the depletion of its crude-for-naira allocation
This assurance followed a meeting of the Steering Committee of 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, in Abuja.
In a statement signed by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, the government clarified that the purported suspension of the Naira-for-crude oil arrangement by Dangote Refinery “has since been amicably resolved.”
“For the avoidance of doubt, the committee reassured that the crude oil for the Naira initiative will continue,” the statement read.
The meeting, attended by key government and industry players, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, FIRS Chairman Zacch Adedeji, representatives of the NNPC Ltd., the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Central Bank of Nigeria, Afreximbank, and Dangote Refinery, unanimously agreed on the need to sustain fuel supply stability.
The committee further assured that concerns raised by PENGASSAN over the operations of the Dangote Refinery are receiving “urgent and good-faith attention” from relevant stakeholders.
“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 statement added.
The government reaffirmed its commitment to energy security, consumer protection, and stability in the domestic petroleum products market.
“The federal government remains fully committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market,” the Finance Ministry stated.
The assurance comes amid heightened public concern that ongoing disagreements in the downstream sector could jeopardize fuel availability and trigger market instability.
