The House of Representatives on Sunday praised the efforts of the Nigerian National Petroleum Company Limited (NNPCL), Dangote Refinery, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for ensuring a consistent supply of premium motor spirit (PMS) across the nation during the festive season.
In a statement issued in Abuja, the Chairman of the House Committee on Petroleum (Downstream), Hon. Ikenga Imo Ugochinyere, expressed his appreciation for the roles played by the three entities in maintaining a steady fuel supply.
Hon. Ugochinyere emphasized that the uninterrupted availability of PMS was not a mere coincidence, but a direct result of the diligent implementation of the Petroleum Industry Act (PIA) in the downstream sector.
“The PIA, enacted to reform Nigeria’s oil and gas industry, is designed to enhance transparency, attract investment, and ensure energy security for the nation,” he stated.
One of the key factors contributing to this stability, according to the committee chairman, is the strategic collaboration between NNPCL and Dangote Refinery. Since its operations began, the refinery has significantly boosted its production capacity, reducing Nigeria’s dependency on imported fuel.
“This local production capability is critical in stabilizing supply chains and mitigating disruptions caused by global market fluctuations or logistical challenges,” he added.
Additionally, Hon. Ugochinyere credited NMDPRA’s regulatory oversight for ensuring market order and adherence to industry standards, which has led to a more predictable market environment that benefits both consumers and businesses alike.
While acknowledging the achievements, he noted that these successes followed a challenging period for the petroleum sector. He added, “The painful yet necessary adjustments made during the PIA’s implementation have laid the groundwork for sustainable practices that will benefit Nigeria’s economy in the long term.”
Hon. Ugochinyere reiterated his commitment to supporting policies that promote sustainability in Nigeria’s petroleum industry and urged stakeholders to continue their collaborative efforts to ensure the continuity of these positive trends.
“As we navigate the ongoing reforms initiated by the PIA, strategic partnerships among key players like NNPCL, Dangote Refinery, and NMDPRA will be essential in achieving long-term energy security for Nigeria,” he concluded.
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