The Federal Government has assured Nigerians that there will be no disruption in the supply of refined petroleum products, despite recent concerns surrounding the Naira-for-crude oil initiative and disputes involving the Dangote Refinery.
According to PUNCH, In a statement released on Sunday by the Ministry of Finance after a meeting of the Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative, the government reaffirmed that energy security and stability in the downstream oil sector remain a top priority.
The committee, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, clarified that recent reports suggesting a suspension of the Naira-for-crude oil deal by the Dangote Refinery had been “amicably resolved.”
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“For the avoidance of doubt, the committee reassures that the crude oil for the Naira initiative will continue. It also assures that all outstanding issues, particularly the dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria and Dangote Refinery, are being addressed with urgency and in good faith,” the statement read.
The meeting was attended by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Chairman of the Federal Inland Revenue Service and head of the Technical Committee, Mr. Zacch Adedeji; as well as representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian National Petroleum Company Limited, the Central Bank of Nigeria, Afreximbank, and the Dangote Refinery.
The Federal Government emphasized that Nigerians should not anticipate scarcity or instability in the prices of refined petroleum products.
“The Federal Government remains fully committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market,” the statement added.
By addressing labour concerns and reaffirming the continuity of its local currency crude oil sales initiative, the committee sought to allay growing public fears over a potential fuel crisis.