The Federal Government has reassured Nigerians that there will be no disruption in the supply of refined petroleum products across the country, despite recent concerns in the downstream oil sector.

This assurance followed a meeting of the Steering Committee on the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative, chaired by Minister of Finance and Coordinating Minister of the Economy Wale Edun.

The committee reaffirmed that the crude oil-for-Naira initiative will continue without disruption, and outstanding issues are being handled urgently and in good faith. Following the committee’s decision, Dangote Petroleum Refinery and Petrochemicals announced the immediate resumption of petrol sales in Naira, citing the intervention of the Naira for Crude Technical Committee chairman.

In a message to its customers, the refinery stated that customers can now place orders and make payments in Naira for self-collection and free petrol delivery at previously specified locations nationwide. The refinery had suspended petrol sales in Naira amid ongoing challenges related to foreign exchange and crude oil pricing mechanisms.

The technical committee’s intervention has helped bridge gaps between the refinery and its customers. The committee reviewed developments around the reported suspension of the Naira-for-crude arrangement by the Dangote Refinery and concerns raised by the Petroleum and Natural Gas Senior Staff Association of Nigeria. It noted that the Dangote issue had already been amicably resolved.

The committee’s meeting was attended by key stakeholders, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Chairman of the Federal Inland Revenue Service, Zacch Adedeji; representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority; the Nigerian National Petroleum Company Limited; the Central Bank of Nigeria; Afreximbank; and the Dangote Refinery.

The Federal Government remains committed to safeguarding energy security, protecting consumers, and maintaining the stability of the domestic petroleum products market. The committee’s decision is expected to boost confidence in the country’s energy sector and ensure the continued supply of petroleum products.