NPA receives commendation as FG’s naira-for-crude policy records success
The Chairman of the Technical Sub-Committee on the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in Naira, Zacch Adedeji, has commended the One-Stop-Shop (OSS) team, led by the Nigerian Ports Authority (NPA), for ensuring smooth operations.
Speaking during a visit to the NPA Headquarters in Lagos, Adedeji, who is also the Executive Chairman of the Federal Inland Revenue Service (FIRS), expressed his gratitude to the team for “playing a pivotal role in the successful implementation of the presidential directive on the domestic sales of crude oil and refined products in Naira.”
Adedeji said: “We recognise that this pioneering effort is a significant achievement, and it undoubtedly reflects your commitment and patriotism. Thus, we encourage you to maintain the hard work and dedication that has made this initiative a success.”
“We also extend our gratitude to all participating agencies for their invaluable cooperation and support. Thank you for your outstanding teamwork and service to the nation,” he added.
In response, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, stated: “This commendation will only spur us to do more in advancing this noble initiative. Let me take this opportunity to especially appreciate the Honourable Minister of Marine & Blue Economy, Alhaji Gboyega Oyetola, for providing the leadership that catalysed our success in this venture.”
“We also thank the tireless Chairman of the Technical Sub-Committee, Zacch Adedeji, for the unwavering support that culminated in this milestone,” Dantsoho continued.
With the success of this bold initiative to sell crude oil and related products in Naira to domestic refiners, President Tinubu has not only helped to save losses running into billions of Naira but has also ensured national energy security, deepened the balance of trade, created jobs, and sustainably put an end to the scarcity of petroleum products and the long queues that previously characterised the festive season.
This development follows the announcement by Dangote Petroleum Refinery of a reduction in the ex-depot price of its Premium Motor Spirit (PMS) to ¦ 899.50 per litre.
Other members of the OSS team include representatives from the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Chief of Naval Staff, Nigerian Navy, Nigerian Export Processing Zone Authority (NEPZA), Nigeria Customs Service, Comptroller General of the Nigeria Immigration Service, Federal Inland Revenue Service (FIRS), Port Health Service, Nigerian National Petroleum Corporation (NNPC) Limited, National Drug Law Enforcement Agency (NDLEA), and Dangote Group.
Other stakeholders in the team include the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Energies Marketers Association of Nigeria (MEMAN).
