The Home of Representatives Committee on Petroleum Sources (Downstream) has pledged to wade into the lingering face-off between the Dangote Group and the Nigeria Union of Petroleum and Pure Fuel Employees (NUPENG), with a view to making sure stability within the sector and equity to all stakeholders.
The decision adopted the top of a three-day retreat in Lagos the place lawmakers, trade gamers and regulators deliberated on urgent points dealing with Nigeria’s downstream petroleum sector.
Chairman of the committee, Hon. Ikenga Imo Ugochinyere, instructed reporters that the panel wouldn’t permit disputes between main traders and unions to derail operations or undermine the hunt for vitality safety. He stated the committee was decided to mediate and produce each events to the desk earlier than the matter escalates additional.
Ugochinyere stated: “Our precedence is to ship actual reforms that assure effectivity, equity and competitiveness throughout the board. We’re going to step in to make sure that no stakeholder feels sidelined or shortchanged.”
The retreat additionally reviewed ongoing challenges dealing with native refineries, significantly their difficulties in securing dependable crude provide. Lawmakers referred to as for better transparency within the allocation and pricing of crude to make sure that each state-owned and modular refineries can function sustainably.
On the lingering controversy surrounding the Nigerian Nationwide Petroleum Firm Restricted’s (NNPCL) acquisition of OVH Power’s downstream belongings, the chairman confirmed that the committee’s reinvestigation was already at a sophisticated stage.
He harassed that the recent probe was distinct from the sooner inquiry, which was rejected on the ground of the Home.
Ugochinyere defined that whereas some stakeholders had didn’t submit essential paperwork, the committee had resolved to maneuver ahead regardless, noting that the Home mandate have to be carried out in full. Members of the general public, he stated, are free to make submissions to the clerk of the committee earlier than suggestions are offered.
Throughout the retreat, the committee recommended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Dangote Refinery, modular refinery operators and different key gamers for his or her efforts and funding in constructing a viable downstream sector. Lawmakers additionally welcomed the NNPCL’s renewed drive to revamp operations, particularly on the Port Harcourt Refinery.
Sub-committee reviews are anticipated within the coming weeks and can type the premise for legislative motion on crude provide, refinery upgrades and regulatory oversight.
Analysts say the retreat and subsequent investigations might set the stage for a extra clear and aggressive downstream panorama, whereas additionally easing tensions between labour and personal operators.
