HOUSE OF REPRESENTATIVES URGES INDEPENDENT FUEL LIFTING FROM DANGOTE REFINERY
Overview:
On Thursday, the House of Representatives called on the Federal Government to instruct the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery to permit independent marketers to lift fuel from the newly operational refinery. This decision follows a motion presented by Oboku Oforji, the representative for Yenagoa/Opokuma Federal Constituency in Bayelsa State.
Key Points:
1. Current Operations of Dangote Refinery: The Dangote Petroleum Refinery commenced operations on September 15, 2024, with a capacity of 650,000 barrels per day. Currently, only major marketers are allowed to lift products from the refinery, leading to concerns over monopolistic practices.
2. Concerns Raised: Oforji expressed worries about the exclusive arrangement between NNPCL and major marketers, likening it to greed and a monopoly that could exacerbate fuel scarcity in Nigeria. He cited past criticisms of the NNPCL’s management, stating that this monopoly could lead to significant economic implications for the country.
3. Impact on Independent Marketers: Representatives from the Independent Petroleum Marketers Association of Nigeria (IPMAN) voiced concerns that they may have to resort to fuel imports if denied access to the Dangote refinery.
The House highlighted the need to ensure independent marketers have a fair chance to contribute to the supply chain.
4. Call for Action: The House resolution emphasized the need for NNPCL to allow independent marketers to lift Premium Motor Spirit (PMS) from the Dangote refinery. Oforji acknowledged the achievement of the Dangote Group in establishing the refinery, suggesting it could lead Nigeria towards energy self-sufficiency and economic growth.
5. Recommendations: The House urged Dangote Refinery to consider establishing tank farms or depots across Nigeria’s geopolitical zones to enhance fuel availability and accessibility.
6. Formation of Investigative Panel: Speaker Tajudeen Abbas announced the formation of a committee, led by House Leader Julius Ihonvbere, to investigate issues within the petroleum sector and provide recommendations for improvement.
Overview:
On Thursday, the House of Representatives called on the Federal Government to instruct the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery to permit independent marketers to lift fuel from the newly operational refinery. This decision follows a motion presented by Oboku Oforji, the representative for Yenagoa/Opokuma Federal Constituency in Bayelsa State.
Key Points:
1. Current Operations of Dangote Refinery: The Dangote Petroleum Refinery commenced operations on September 15, 2024, with a capacity of 650,000 barrels per day. Currently, only major marketers are allowed to lift products from the refinery, leading to concerns over monopolistic practices.
2. Concerns Raised: Oforji expressed worries about the exclusive arrangement between NNPCL and major marketers, likening it to greed and a monopoly that could exacerbate fuel scarcity in Nigeria. He cited past criticisms of the NNPCL’s management, stating that this monopoly could lead to significant economic implications for the country.
3. Impact on Independent Marketers: Representatives from the Independent Petroleum Marketers Association of Nigeria (IPMAN) voiced concerns that they may have to resort to fuel imports if denied access to the Dangote refinery.
The House highlighted the need to ensure independent marketers have a fair chance to contribute to the supply chain.
4. Call for Action: The House resolution emphasized the need for NNPCL to allow independent marketers to lift Premium Motor Spirit (PMS) from the Dangote refinery. Oforji acknowledged the achievement of the Dangote Group in establishing the refinery, suggesting it could lead Nigeria towards energy self-sufficiency and economic growth.
5. Recommendations: The House urged Dangote Refinery to consider establishing tank farms or depots across Nigeria’s geopolitical zones to enhance fuel availability and accessibility.
6. Formation of Investigative Panel: Speaker Tajudeen Abbas announced the formation of a committee, led by House Leader Julius Ihonvbere, to investigate issues within the petroleum sector and provide recommendations for improvement.