A 14-member steering group has been established by President Muhammadu Buhari to deal with the supply and distribution of petroleum products throughout the nation.
The President will serve as the steering committee's chairman, and Timipre Sylva, Minister of State for Petroleum Resources, will serve as the committee's alternate chairman.
In a statement released by his top media and communication advisor, Horatius Egua, on Tuesday, Mr. Sylva stated that the committee would, among other things, ensure the supply and distribution of petroleum products throughout the nation is transparent and effective.
Mr. Sylva instructed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to strictly enforce adherence to the government-approved ex-depot and retail prices for petroleum motor spirit in order to guarantee sanity in the supply and distribution across the value chain (PMS).
Additionally, he instructed the organization to make sure that NNPC Limited complies with the nation's domestic supply responsibility for PMS and other petroleum products.
He pointed out that prices on other deregulated products, such diesel, Dual Purpose Kerosene (DPK), and Liquid Petroleum Gas, are protected from abuse in order to protect the interests of the average Nigerian from price gouging (LPG).
“The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit the government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy,” Mr Sylva said.
Additional terms of reference include monitoring petroleum products, particularly Premium Motor Spirit (PMS), to track daily national consumption and stop smuggling, as well as visibility on the Nigerian National Petroleum Corporation Limited refinery restoration program.
The Federal Ministry of Petroleum Resources' permanent secretary, the president's national economic adviser, the director-general of the State Security Service, and the minister of finance are among the committee's members (SSS).
Others include the commandant-general of the Nigerian Security and Civil Defense Corps, the chairman of the Economic and Financial Crimes Commission, and the comptroller-general of the Nigerian Customs Service (NCS) (NSCDC).
Others include the Governor of the Central Bank of Nigeria, the Group Chief Executive Officer of NNPC Limited, the Special Advisor (Special Duties) to the Minister of State for Petroleum Resources, and the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The secretary will be the Minister of State for Petroleum Resources' technical advisor (Midstream).
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