Reps Committee Engages Industry on Fuel Supply Reforms

On Tuesday, the House of Representatives Committee on Petroleum Resources (Downstream), led by Chairman Ikenga Ugochinyere, launched an initiative to reconcile differing views between petroleum importers and domestic refiners. This initiative is part of broader consultations with industry stakeholders, including the Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Energies Marketers Association of Nigeria.

The discussions focus on reforms to ensure energy security and a stable fuel supply as Nigeria's domestic refining capacity expands. Ugochinyere emphasized the importance of building consensus among operators rather than imposing policies without consultation, stating that reforms must reflect the realities of those whose investments support the fuel distribution network.

He noted that the current changes in the downstream petroleum industry, including the implementation of the Petroleum Industry Act and the deregulation of the petrol market, necessitate a collaborative approach to lawmaking and oversight to ensure that policies benefit all stakeholders.