Reps seek roadmap for stable fuel supply

Nigeria's House of Representatives Committee on Petroleum Resources (Downstream) has launched a new initiative to address the nation's energy security and ensure a stable fuel supply. Lawmakers convened consultations with key industry players, including petroleum importers and domestic refiners, to reconcile divergent views and foster reforms within the downstream petroleum sector.

The committee held an interactive session at the National Assembly with representatives from the Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Energies Marketers Association of Nigeria. This engagement occurs amidst ongoing discussions about the future of fuel imports, particularly as Nigeria's domestic refining capacity expands.

The downstream petroleum industry is currently navigating significant changes, influenced by the implementation of the Petroleum Industry Act, the deregulation of the petrol market, the rehabilitation of state-owned refineries, and the commencement of large-scale refining by private operators. These developments have intensified the debate on how quickly Nigeria should reduce its reliance on imported petroleum products while maintaining supply and price stability.

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We are here not to interrogate, not to accuse and not to put anyone on trial. We are here to listen. We are here to talk to one another as partners who share one common destiny, a Nigeria where energy is affordable, supply is stable and no citizen suffers because petroleum products are out of reach.

Committee Chairman Ikenga Ugochinyere emphasized the House's commitment to building consensus rather than imposing policies. He stressed that reforms must consider the realities faced by operators whose investments are crucial for the country's fuel distribution network. "We are here not to interrogate, not to accuse and not to put anyone on trial. We are here to listen. We are here to talk to one another as partners who share one common destiny, a Nigeria where energy is affordable, supply is stable and no citizen suffers because petroleum products are out of reach," Ugochinyere stated.

Ugochinyere assured stakeholders of an inclusive legislative approach, noting that no major policy would be enacted without broad industry consultation. He highlighted the critical role of marketers, depot owners, and other downstream operators as the essential link between government policy and consumers. The committee aims to guide future legislative interventions toward encouraging investment, deepening competition, strengthening local refining, and guaranteeing affordable and uniform fuel prices nationwide.

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The marketers, depot owners, independent operators and major marketers remain the bridge between government policy and the pump. When that bridge is strong, Nigerians enjoy stable prices and reliable supply. When it is weak, the entire nation feels the consequences.