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Published on 2024-02-23 21:36:48
The House of Representatives Committee on Petroleum Resources (Downstream) is taking action against those involved in the racketeering of Premium Motor Spirit (PMS) and other sharp practices in the downstream sector. The committee has partnered with the leadership of the Nigerian Association of Road Transport Owners (NARTO) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) to address these issues and ensure the availability and affordability of PMS and AGO.
During a meeting in Abuja, Hon. Ikeagwuonu Ugochinyere, the chairman of the committee, emphasized the need to tackle the hindrances in the nation’s petroleum sector caused by illegal activities. The committee is committed to bringing the perpetrators of these practices to justice. Additionally, they have urged the federal government to support local petroleum product refiners to increase the availability and affordability of petroleum products in the country.
Furthermore, the committee highlighted the importance of rejuvenating the nation’s 23 oil depots and pipelines to facilitate the transportation of petroleum products nationwide. They also agreed to closely monitor the ongoing repairs of the nation’s refineries to improve efficiency in the sector.
The committee commended the leadership of NARTO and PETROAN for calling off a strike that had disrupted the distribution of petroleum products. They also recognized the efforts of the National Security Adviser, the Minister of Petroleum, and the NNPC in mediating the situation. Moving forward, the committee aims to find sustainable solutions to challenges in petroleum distribution and retail outlets to prevent future disruptions.
To address issues such as multiple charges, sharp practices, and rising transportation costs, the committee will engage in inclusive meetings with key stakeholders, including the National Assembly and security agencies. They also plan to investigate issues related to middlemen selling petroleum products to retail outlet owners at inflated prices, contributing to the rising costs.
In their efforts to ensure stability in the industry, the committee will consider recommendations from stakeholders like NARTO and PETROAN. They will also explore legislative actions to reduce freight costs by dredging seaports to open vessel landing corridors in additional locations beyond Lagos, Warri, Port-Harcourt, and Calabar.
Moreover, the committee will investigate the status of NNPC depots and the national pipeline network to ensure their functionality. By addressing inefficiencies in transportation and distribution systems, the committee aims to reduce pressure on roads and ultimately lower the prices of petroleum products for consumers.
In conclusion, the House of Representatives Committee on Petroleum Resources (Downstream) is committed to addressing issues of racketeering and sharp practices in the downstream sector. They are working collaboratively with industry stakeholders to enhance the availability, affordability, and efficiency of petroleum products in Nigeria. Through legislative actions and strategic partnerships, the committee aims to create a sustainable and stable environment in the petroleum sector.
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