The Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative met on Sunday to review developments in the downstream oil sector with a view to amicably resolving the faceoff between oil workers and Dangote Refinery’s management on industrial matters
The meeting, chaired by the Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, focused on two recent issues, namely the purported suspension of the Naira-for-crude oil arrangement by the Dangote Refinery, and the concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) regarding the Dangote Refinery.
Following deliberations on the pesky issues, the committee reassured that the crude oil for the Naira initiative would be sustained and that all outstanding issues, particularly the dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Dangote Refinery, would be amicably resolved.
Edun maintained that the Federal Government remained committed to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market to avert any disruption in the supply of refined petroleum products nationwide.
The meeting had in attendance the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, who is the chairman of the Technical Committee, representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian National Petroleum Company Limited (NNPCL), Central Bank of Nigeria (CBN), Afreximbank, and the Dangote Refinery, among others.
