The House of Representatives Committee on Petroleum Resources (Downstream) has launched a fresh initiative to reconcile differences between petroleum importers and domestic refiners as part of efforts to strengthen Nigeria’s downstream oil sector.
The committee began consultations with key industry stakeholders during an interactive session held on Tuesday at the National Assembly. The discussions focused on reforms aimed at ensuring energy security, maintaining a stable fuel supply and promoting a more competitive downstream petroleum industry.
Participants at the meeting included the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energies Marketers Association of Nigeria (MEMAN).
The engagement comes amid growing debate over the future of petroleum imports as Nigeria continues to expand its domestic refining capacity. Industry stakeholders have expressed varying views on the pace at which the country should reduce its dependence on imported fuel.
The lawmakers said the consultations are intended to find common ground between fuel importers and local refiners while supporting policies that will improve the performance of the downstream petroleum sector.
The discussions also come as Nigeria’s downstream oil industry undergoes major changes following the implementation of the Petroleum Industry Act (PIA), 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 renewed conversations about balancing increased local refining with the need to maintain adequate fuel supply and price stability across the country.
The committee is expected to continue engaging industry players as it works toward reforms that will support long-term energy security and create a more efficient and competitive petroleum market.
