The Federal Government has stated that there will be no disruption in the supply of refined petroleum products across the country.
The 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 the Coordinating Minister of the Economy, Wale Edun.
The meeting reviewed recent developments in the downstream oil sector, including the reported suspension of the naira-for-crude arrangement by the Dangote Refinery and concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
The Federal Ministry of Finance said the issue with the refinery had been “amicably resolved”.
In attendance at the meeting were Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), as well as representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian National Petroleum Company (NNPC) Limited, Central Bank of Nigeria (CBN), Afreximbank and the Dangote Refinery.
The committee reaffirmed that the naira-for-crude initiative will continue and assured that all outstanding matters, particularly the dispute between 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,” the statement said.