By Chibuike
ABUJA (PRECISE POST) — The Federal Government has assured Nigerians that the supply of refined petroleum products will remain steady nationwide, dispelling fears of potential disruptions in the downstream oil sector.
This reassurance came after a meeting of the Steering Committee on 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.
According to the statement signed by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga released on the official X handle of the Ministry, the meeting addressed two key developments: the alleged suspension of the Naira-for-crude oil arrangement by the Dangote Refinery, which officials confirmed has now been “amicably resolved,” and concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the refinery’s operations.
Precise Post recalls that those present at the meeting were top government and industry officials, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, who also heads the initiative’s Technical Committee; representatives from the Nigerian National Petroleum Company (NNPC) Ltd., the Central Bank of Nigeria (CBN), the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Afreximbank, and the Dangote Refinery.
In a joint resolution, the committee reaffirmed that there would be no disruption in the domestic supply of refined petroleum products and clarified that the Naira-for-crude oil initiative will continue as planned.
The committee further noted that all outstanding concerns — particularly the ongoing dispute between PENGASSAN and Dangote Refinery — are being addressed with “urgency and in good faith.”
The Federal Government reiterated its commitment to ensuring energy security, protecting consumers, and maintaining stability in the country’s petroleum market.
