JUST IN: Buhari Makes 14 Powerful Appointments (FULL LIST)

JUST IN: Buhari Makes 14 Powerful Appointments (FULL LIST)

President Muhammadu Buhari has approved the formation of a 14-member Steering Committee on Petroleum Products Supply and Distribution Management to find long-term solutions to disruptions in the supply and distribution of petroleum products.

The Steering Committee, which will be chaired by Buhari, will also include the Minister of State for Petroleum Resources, Chief Timipre Sylva, as an alternate chairman.

In a statement issued by his Senior Adviser (Media and Communications), Horatius Egua, Sylva stated that the committee would, among other things, ensure the transparent and efficient supply and distribution of petroleum products throughout the country.

Sylva 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 to further ensure sanity in the supply and distribution across the value chain.

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The minister also directed the NMDPRA to ensure that NNPC Limited, the country’s last-resort supplier, meets the domestic supply obligation for PMS and other petroleum products.

He also directed that ordinary Nigerians’ interests be protected from price exploitation on other deregulated products such as Automative Gas Oil (AGO), Dual Purpose Kerosene (DPK), and Liquified Petroleum Gas (LPG) (LPG).

“The Federal Government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy,” he said.

Other terms of reference include ensuring national strategic stock management, visibility on the NNPC Limited refinery rehabilitation program, and end-to-end tracking of petroleum products, particularly PMS to determine daily national consumption and eliminate smuggling.

The committee also includes the Minister of Finance, the Permanent Secretary of the Ministry of Petroleum Resources, the President’s National Economic Adviser, and the Director-General of the Department of State Services (DSS).

Others include the Comptroller-General of the Nigerian Customs Service (NCS), the Chairman of the Economic and Financial Crimes Commission (EFCC), and the Commandant-General of the Nigerian Security and Civil Defence Corps (NSCDC)

The Steering Committee will also include the Authority Chief Executive NMDPRA, the Governor of the Central Bank of Nigeria, the Group Chief Executive Officer of NNPC Limited, the Special Advisor (Special Duties) to the HMSPR, and the Technical Advisor (Midstream) to the HMSPR.

According to the News Agency of Nigeria (NAN), the PMS approved ex depot price is N148.17 per litre as of 2022, while NNPC retail stations dispense at N179 and other filling stations dispense between N180 and N184.

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