In a move to find a lasting solution to the disruptions in the supply and distribution of petroleum products in Nigeria, President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products supply and distribution management, which he will personally chair.
The Steering Committee, which has Minister of State for Petroleum Resource Chief Timipre Sylva as Alternate Chairman is expected to among other things to ensure transparent and efficient supply and distribution of petroleum products across the country.
Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-end tracking of petroleum products, especially PMS to ascertain daily national consumption and eliminate smuggling.
To further ensure sanity in the supply and distribution across the value chain, Sylva has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure strict compliance with the government approved ex-depot and retail prices for PMS.
The Minister has further directed the NMDPRA to ensure that NNPC Limited, which is the supplier of last resort, meets the domestic supply obligation of PMS and other petroleum products in the country.
He further directed that the interests of the ordinary Nigerian is protected from price exploitation on other deregulated products such as AGO and DPK and LPG.
The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit the government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy.
Other members of the committee are Minister of Finance, Permanent Secretary, Ministry of Petroleum Resources, National Economic Adviser to the President, Director-General, Department of State Services (DSS), Comptroller-General, Nigerian Customs Service (NCS), Chairman, Economic and Financial Crimes Commission Member (EFCC), and Commandant-General, Nigerian Security and Civil Defence Corps (NSCDC)
Others who made up the Steering Committee are Authority Chief Executive, Nigerian Midstream and Member Downstream Petroleum Regulatory Authority (NMDPRA), Governor, Central Bank of Nigeria (CBN), Group Chief Executive Officer, NNPC Limited, Special Advisor (Special Duties) to the HMSPR while the Technical Advisor (Midstream) to the HMSPR will serve as Secretary.