The House of Representatives has asked the federal government to prevail on the Nigerian National Petroleum Corporation Limited(NNPCL) and the Dangote Refinery to allow independent petroleum marketers in the country to lift PMS from the newly established refinery.
The House also wants the NNPCL to disclose to Nigerians the actual price it was buying PMS from the Dangote refinery, while the company should also disclose to Nigerians how much it was selling the product to NNPCL.
The resolution followed a motion of urgent public importance sponsored by the member representing Yenagoa/Opokuma Federal Constituency, Bayelsa State, Oboku Oforji.
Oforji recalled the Dangote Petroleum Refinery began operation in its 650, barrels per day (BPD) integrated refinery on the 15th of September 2024 with the Nigeria National Petroleum Corporation Limited (NNPCL) as the sole off-taker.
He said recently, the Major Marketers have been given access to lift the product by the NNPCL. We must commend the Dangote Group and congratulate Nigerians as this is no mean feat because our country has been battling for decades with refining our crude without success.
According to him, by this feat, Nigeria is driving towards energy self-sufficiency, cost, and foreign exchange savings, meeting the increasing demand for fuels, attraction of foreign capital investment, and generation of Forex through the export of finished product, conservation of foreign exchange and huge value addition that will contribute to increasing in Nigeria Gross Domestic Product (GDP).
He said further that given the high demand by millions of Nigerians for PMS, and the ordeal they go through to get it, NNPCL should allow independent marketers to lift the product from the Dangote refinery.
He said allowing Independent Marketers, Major Marketers, along NNPCL to lift from the Dangote Refinery will lead to competition and availability of the product, hence reduction in the price of PMS while expressing concern that NNPCL and the Major Marketers as exclusive off-takers, spells monopoly which is tantamount to greed.
He said the same NNPCL that has failed to manage our crude and refineries for decades in the past.
He said further that allowing the NNPCL and Major Marketers to lift PMS from the refinery to the exclusion of Independent Marketers, is not good enough, adding that the Independent Petroleum Marketers Association of Nigeria’s (IPMAN) representatives have expressed fears that it may be forced to resort to fuel imports to sustain their businesses.
He stressed that if this monopoly is not nipped in the bud, the suffering of Nigerians occasioned by the scarcity of PMS will continue and we all know the implications on the economy.
In the interim, the House wants the Federal Government to mandate the NNPCL and Dangote Refinery to allow independent marketers to lift PMS from the Dangote Refinery, while Dangote Refinery should build, acquire, or partner to get Tank Farms or depots across the geo-political zones in the country, to ease the accessibility of petroleum products to the people.
It also wants the management of Nigeria National Petroleum Corporation Limited (NNPCL) to reveal the price it sells crude oil to the Dangote Refinery and also mandate the Dangote Refinery to reveal the price it sells PMS to the NNPCL to ensure transparency.
Meanwhile, Speaker of the House, Abbas Tajudeen has inaugurated a panel chaired by House Leader, Julius Ihonvbere to serve in a joint committee of the Senate to investigate the crisis bedevilling the petroleum sector and proffer recommendations on the way forward.
Other members of the committee are Kelechi Nwogu (PDP, Rivers), Patrick Umoh (APC, Akwa Ibom), and Sada Soli (APC, Katsina) among others.
