Stakeholders in the Nigerian petroleum downstream sector on Tuesday pledge their commitment to ensure availability of petroleum products across the country.
A communiqué issued at the end of a meeting involving key operators, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), The Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Port Authority (NPA), Nigerian National Petroleum Corporation (NNPC) Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) said the new strategy has been adopted to prevent petrol scarcity and maintain stability in the downstream sector.
Under the new arrangement, the stakeholders agreed to remove all hindrances, capable of stalling supply nationwide.
The communique signed by the Engr. Farouk Ahmed, NMDPRA, Engr. Yemi Adetunji, NNPC Limited, Mr. Clement Isong, Executive Secretary, MOMAN and Mr. Olufemi Adewole, Executive Secretary DAPPMAN,, said the NNPC, assures the supply of sufficient PMS to the country.
Part of the statement reads: “NNPC shall immediately revert to Naira denominated invoices for excess capacity for coastal movement for the time being.
“Nigerian Maritime Administration and Safety Agency, NIMASA and Nigerian Ports Authority, NPA are to engage their supervising Ministry and the CBN to seek ways of addressing the challenges relating to the payment of dues and levies in US Dollars.
“NMDPRA to engage stakeholders on the reconciliation of bridging claims. The Marketers/Depot Owners are to start charging the official ex-depot price immediately.
“NMDPR will engage stakeholders within the first quarter of 2022 on the implementation of guidelines and timelines of the Petroleum Industry Act, PIA in 2021.
“All stakeholders agreed to collaborate to ensure smooth and efficient supply and distribution of petroleum products to all parts of the country.”
“MOMAN and DAPPMAN are to immediately communicate this resolution to marketers.”
NNPC had on Monday released a statement assuring consumers of the availability of the product following a marginal hike in the pump price by most independent retailers.
It urged consumers to avoid panic buying and cautioned marketers against hoarding the product.
NNPC disclosed that it has over 1.7 billion litres of petrol in stock and more product “is expected to arrive into the country daily over the coming weeks and months”.
The Corporation explained that “it is, therefore, unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.
“The NNPC is also not aware of any plan by the government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.
“In view of these assurances, therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country.
“The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond”.