The Federal Government has reaffirmed its dedication to maintaining a consistent supply of refined petroleum products nationwide following a Steering Committee meeting on the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative, chaired by Finance Minister and Coordinating Minister of the Economy, Wale Edun.
The meeting addressed concerns in the downstream oil sector, including a reported suspension of the Naira-for-crude oil deal with Dangote Refinery, which officials confirmed has been amicably resolved.
The committee also tackled issues raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the refinery.
Attendees included Minister of Budget and Economic Planning Abubakar Atiku Bagudu, FIRS Chairman and Technical Committee head Zacch Adedeji, and representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NNPC Ltd., Central Bank of Nigeria, Afreximbank, and Dangote Refinery.
The government assured Nigerians that the Naira-for-crude initiative remains intact and petroleum supply will continue uninterrupted.
It also committed to resolving outstanding disputes between PENGASSAN and Dangote Refinery in good faith, emphasizing its focus on ensuring energy security, consumer protection, and stability in the domestic petroleum market.
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