The Chairman of the Technical Sub-Committee overseeing the Federal Government’s policy on domestic sales of crude oil and refined products in Naira, Zacch Adedeji, has praised the One-Stop-Shop (OSS) team, led by the Nigerian Ports Authority (NPA), for their effective management of operations.
During his visit to the NPA Headquarters in Lagos yesterday, Adedeji, who also serves as the Executive Chairman of the Federal Inland Revenue Service (FIRS), expressed his gratitude to the NPA team for their crucial role in successfully implementing the presidential directive regarding the domestic sales of crude oil and refined products in Naira.
Adedeji commended the initiative's success, highlighting the team's dedication and patriotism. He urged continued commitment to this groundbreaking work and expressed gratitude to all collaborating agencies for their vital support and cooperation, acknowledging their exemplary teamwork and national service.
In response, the Managing Director of NPA, Dr. Abubakar Dantsoho, remarked, “This recognition will motivate us to further enhance this commendable initiative. I would like to take this opportunity to express special thanks to the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for his leadership that has been instrumental in our success. We also appreciate the steadfast support of Chairman Zacch Adedeji, which has been vital in reaching this significant milestone.”
He further noted, “The success of this bold initiative to sell crude and related products in Naira to domestic refiners not only prevents losses amounting to billions of Naira but also ensures national energy security, improves the balance of trade, and creates jobs. Additionally, it has effectively eliminated the scarcity of petroleum products and the long queues that previously marked the holiday season.”
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| L-R: Abubakar Dantsoho, managing director of the NPA and Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS) at the NPA headquarters on December 19, 2024 |
This development follows the announcement by Dangote Petroleum Refinery regarding a decrease in the ex-depot price of its Premium Motor Spirit (PMS), now set at N899.50 per litre.
The team comprises representatives from various organizations, including the Nigerian Maritime Administration and Safety Agency (NIMASA), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Chief of Naval Staff from the Nigerian Navy, the Nigerian Export Processing Zone Authority (NEPZA), the Nigeria Customs Service (NCS), the Comptroller General of the Nigeria Immigration Service, Port Health Service, the Nigeria National Petroleum Company (NNPC) Limited, and the National Drug Law Enforcement Agency (NDLEA), along with Dangote Refineries Limited.
Additionally, the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN), and the Major Energies Marketers Association of Nigeria (MEMAN) make up the OSS team.