The Nigerian Ports Authority (NPA), in partnership with various government agencies, has announced plans to facilitate the sale of crude oil in Naira for supply to Dangote’s Refinery and other refined products. This initiative aims to enhance the country’s oil supply chain while aligning with the Federal Government’s directive.
Meeting Highlights
During a recent meeting at the NPA’s Lagos Headquarters, Managing Director Dr. Abdulkadir Dantsoho outlined the agency’s commitment to coordinating efforts among regulatory and security stakeholders. He emphasized that the implementation of this directive has already begun, underscoring the NPA’s role in facilitating seamless operations within the sector.
Establishment of a One-Stop Shop
To further streamline the process, the NPA plans to set up a One-Stop Shop that will serve as a central point for coordinating services from all regulatory bodies and security agencies. This initiative aims to ensure the efficient implementation of the crude oil sale policy, ultimately enhancing the availability of petroleum products across Nigeria.
Dr. Dantsoho stated, “We are poised to collaborate and provide the efficiencies necessary to deliver on this national imperative of ensuring the availability of Premium Motor Spirit (PMS) and other petroleum products.”
Collaborative Efforts
The NPA’s leadership expressed readiness to work closely with all stakeholders involved in the policy’s execution. The inter-agency meeting served as a platform for discussing strategies to ensure that products are readily accessible throughout the country, contributing to a more stable petroleum supply and pricing environment.
This move is part of broader efforts to address the challenges in Nigeria’s oil sector, particularly regarding pricing and availability, while also fostering local currency transactions in the oil market.