In order to put the recurring fuel scarcity in Nigeria to rest, President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution Management.
According to the Federal Ministry of Petroleum Resources, the move was to find lasting solutions to the disruptions in the supply and distribution of petroleum products across the country.
It said the committee had the Minister of State for Petroleum Resource, Chief Timipre Sylva, as Alternate Chairman, as the team would ensure transparent and efficient supply and distribution of petroleum products.
The Petroleum ministry stated in a statement which reads as below:
“Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-to-end tracking of petroleum products, especial PMS, to ascertain daily national consumption and eliminate smuggling.”
To ensure sanity in the supply and distribution across the value chain, Sylva directed the NMDPRA to ensure strict compliance with the government-approved ex-depot and retail prices for PMS.
“Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-to-end tracking of petroleum products, especial PMS, to ascertain daily national consumption and eliminate smuggling.”
To ensure sanity in the supply and distribution across the value chain, Sylva directed the NMDPRA to ensure strict compliance with the government-approved ex-depot and retail prices for PMS.
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The ministry stated that other members of the committee include the Minister of Finance; the Permanent Secretary, of the Ministry of Petroleum Resources; the National Economic Adviser to the President; and the Director-General of, the Department of State Services.
Others include the Comptroller-General of, the Nigerian Customs Service; the Chairman, of the Economic and Financial Crimes Commission; and the Commandant-General of the Nigerian Security and Civil Defence Corps.
The Chief Executive, NMDPRA; Governor, Central Bank of Nigeria; Group Chief Executive Officer, NNPC Limited; Special Advisor (Special Duties) to the HMSPR; were also listed as members of the committee, while the Technical Advisor (Midstream) to the HMSPR would serve as secretary.
Nigerians have been experiencing fuel scarcity since late 2022 and has lingered over the plan to remove subsidy, a move which most marketers are not pleased with.
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