President Muhammadu Buhari has approved the constitution of a 14-member steering committee to address the supply and distribution of petroleum products across the country.
The steering committee will be chaired by the President, with the Minister of State for Petroleum Resources, Timipre Sylva, acting as the alternate chairman.
Mr Sylva, in a statement issued by his senior adviser on media and communication, Horatius Egua, said the committee would, among other things, ensure transparent and efficient supply and distribution of petroleum products across the country.
To ensure sanity in the supply and distribution across the value chain, Mr 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 petroleum motor spirit (PMS).
He also directed the agency to ensure that NNPC Limited meets the domestic supply obligation of PMS and other petroleum products in the country.
He noted that the interests of the ordinary Nigerian are protected from price exploitation on other deregulated products, such as diesel, Dual Purpose Kerosene (DPK) and Liquified Petroleum Gas (LPG).
“The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit the government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy,” Mr Sylva said.
Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and to ensure tracking of petroleum products, especially PMS to ascertain daily national consumption and eliminate smuggling.
The committee members include the Minister of Finance, the permanent secretary of the Federal Ministry of Petroleum Resources, the National Economic Adviser to the President, and the director-general of the State Security Service (SSS).
Others include the comptroller-general of the Nigerian Customs Service (NCS), the chairman, Economic and Financial Crimes Commission (EFCC), and the commandant-general of the Nigerian Security and Civil Defence Corps (NSCDC).
Others are the Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the governor of the Central Bank of Nigeria, the Group Chief Executive Officer, of NNPC Limited, Special Advisor (Special Duties) to the Minister of State for Petroleum Resources.
Meanwhile, the technical advisor (Midstream) to the Minister of State for Petroleum Resources, will serve as the secretary.
