Nigerian House of Representatives committee seeks stable fuel supply roadmap
The House of Representatives Committee on Petroleum Resources Downstream has initiated discussions with key industry players to reconcile positions between petroleum importers and domestic refiners. This move aims to ensure energy security, stable fuel supply, and a competitive downstream petroleum sector in Nigeria. The committee met with the Depot and Petroleum Products Marketers Association of Nigeria DAPPMAN, the Independent Petroleum Marketers Association of Nigeria IPMAN, and the Major Energies Marketers Association of Nigeria MEMAN. Chairman Ikenga Ugochinyere emphasized the House's commitment to building consensus and adopting an inclusive approach to policymaking. DAPPMAN's Executive Secretary, Olufemi Adewole, called for stronger regulatory frameworks and a joint market-monitoring framework. IPMAN's National Chairman, Abubakar Shettima, highlighted structural challenges such as high financing costs and inadequate infrastructure, urging support for reforms. MEMAN's Executive Secretary, Clement Isong, cautioned against blanket import restrictions, advocating for strategic imports to ensure energy security during supply disruptions and recommending a national strategic petroleum reserve. While stakeholders had differing views on import levels, there was a consensus on the need for policy consistency, infrastructure investment, and regulatory coordination.
