Lawmakers Challenge Dollar Billing for Local Petrol Sales

The House of Representatives has initiated actions to address concerns in Nigeria’s downstream petroleum sector, particularly opposing the imposition of US dollar-denominated charges on locally refined petroleum products. During an interactive session on Tuesday, the House Committee on Petroleum Resources (Downstream) engaged with stakeholders, including the Independent Petroleum Marketers Association of Nigeria and the Depot and Petroleum Products Marketers Association of Nigeria.

Chairman Ikenga Ugochinyere stated that the committee would invite relevant agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Central Bank of Nigeria, to address issues raised by industry operators. Ugochinyere criticized the practice of charging port fees in U.S. dollars, asserting it negatively impacts the economy and the pump price of Premium Motor Spirit.

Additionally, he pledged to investigate allegations regarding the issuance of fuel import licences for the first three quarters of 2026, which reportedly favored the same group of marketers. The committee aims to balance domestic refining capacity with the interests of marketers.