The House of Representatives has taken a significant step towards enhancing competition in the petroleum sector by referring a motion to allow other petroleum marketers to directly lift premium motor spirit (PMS) from the Dangote Refinery to a joint national assembly ad hoc committee. This motion, raised by Honourable Oboku Oforji, aims to promote self-sufficiency in PMS production within Nigeria.

In his address, Honourable Oforji emphasized that the commencement of operations at the Dangote Refinery marks a crucial opportunity for Nigeria to achieve self-sufficiency in fuel production. He criticized the Nigerian National Petroleum Company Limited (NNPCL) for its insistence on being the sole lifter of PMS from the Dangote Refinery, labeling this approach as “greed.” Oforji argued that NNPCL’s failure to adequately maintain the nation’s refineries has hindered the country’s energy sector.

The motion also calls for the House to compel NNPCL to disclose the pricing of crude oil supplied to the Dangote Refinery. In addition, it seeks transparency regarding the price at which the Dangote Refinery sells PMS to NNPCL.

This move comes as part of broader efforts to reform the petroleum sector and encourage transparency, competition, and efficiency in the distribution of fuel across the country. The decision to form an ad hoc committee reflects the urgency of addressing the concerns raised by Honourable Oforji and ensuring that all stakeholders in the petroleum industry are given equitable access to resources.

As the ad hoc committee begins its work, it will likely focus on the implications of these changes for fuel pricing, supply chain dynamics, and overall market competition in Nigeria’s energy sector.