Reps Address Dollar Billing Impact on Local Refineries

On Tuesday, the House of Representatives, under the leadership of Hon. Ikenga Ugochinyere, Chairman of the Committee on Petroleum Resources (Downstream), convened in Abuja for an interactive session with key oil marketing associations, including the Independent Petroleum Marketing Association of Nigeria (IPMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and Major Energies Marketers Association of Nigeria (MEMAN). The discussions focused on the protection of domestic refineries and the impact of dollar billing imposed by the Nigerian Port Authority (NPA) on the local petroleum market.

Hon. Ugochinyere emphasized the need to resolve contentious issues within the industry and announced plans to meet with various regulatory bodies, including the NMDPRA and NUPRC, to address concerns regarding import licenses and the safe transport of petroleum products. He highlighted the importance of fostering domestic refining capabilities while balancing the need for imports as more refineries are expected to come online in the coming years.