The Nigerian government has assured citizens of a stable supply of petroleum products despite the ongoing dispute between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). According to Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, this assurance follows a meeting of the Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency Initiative.
The meeting, chaired by Minister of Finance Wale Edun, addressed two key issues: the reported suspension of the Naira-for-crude oil arrangement by Dangote Refinery, which has since been resolved, and concerns raised by PENGASSAN regarding the refinery. The committee reaffirmed that the crude oil for the Naira initiative will continue and that all outstanding issues, including the dispute between PENGASSAN and Dangote Refinery, are being addressed with urgency and in good faith.
The federal government has reiterated its commitment to ensuring energy security, protecting consumers, and maintaining stability in the domestic petroleum products market. The meeting attendees, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, and representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian National Petroleum Company (NNPC) Ltd., Central Bank of Nigeria (CBN), and Afreximbank, emphasized that there will be no disruption in the supply of refined petroleum products across the country.
The assurance comes amid a nationwide strike declared by PENGASSAN against Dangote Refinery over the mass sacking of workers. The union has directed its members to cut gas and crude supply to the refinery until it reverses its anti-labour practices. The dispute between Dangote Refinery and PENGASSAN has raised concerns about the potential impact on the country’s petroleum products supply. However, the government’s assurance aims to alleviate these concerns and maintain stability in the market.
The ongoing dispute highlights the need for swift resolution to ensure the continued supply of petroleum products. The government’s commitment to addressing the issues and maintaining stability in the market is crucial to preventing any potential disruptions. As the situation develops, the government’s efforts to resolve the dispute and ensure a stable supply of petroleum products will be closely monitored.
