We seek partnership, not fight, with Dangote, says DAPPMAN
The House of Representatives has inaugurated an ad hoc committee to oversee the implementation of the Federal Government’s Naira-for-Crude oil policy. It said this will ensure transparency, accountability and effective execution of the initiative aimed at strengthening the economy.
Meanwhile, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has dismissed the notion that it conflicted with Dangote Refinery, adding that it wanted collaboration to help eliminate fuel queues and ensure a stable supply of petroleum products.
It urged Dangote to adopt an open-door supply policy and provide marketers with fair access to petroleum products at reasonable prices. Speaking at the inauguration of the committee, yesterday in Abuja, Speaker of the House, Abbas Tajudeen, described the move as a crucial step towards promoting oversight, improving efficiency and safeguarding national interests in one of the government’s most significant economic reform policies under President Bola Tinubu’s administration.
Represented by the Minority Leader, Kingsley Chinda, the Speaker said the committee had been entrusted with a vital mandate to monitor implementation, ensure inter-agency coordination, and assess the policy’s overall impact on Nigeria’s fiscal and monetary landscape.
“Its work is critical to making sure the objectives of the policy are met, and that any gap in execution is promptly addressed. The House expects nothing less than a thorough, impartial and well-documented process that contributes to the stability of our economy,” the Speaker said.
Tajudeen noted that the policy “carries far-reaching implication” for Nigeria’s foreign exchange stability, revenue generation and long-term energy security. He stressed that a comprehensive review of its framework will help determine whether the policy is meeting its goals and identify adjustments where necessary.
Noting that such an assessment will provide the House with clearer guidance in exercising its legislative commitment, Abbas expressed confidence in the committee to deliver results that meet the expectations of this chamber and the hopes of the people.
The Speaker reaffirmed that the 10th House remained committed to supporting President Bola Tinubu’s Renewed Hope Agenda, particularly in addressing economic challenges confronting Nigerians.
He said: “Our resolve is to ensure the legislature remains a true partner in progress by aligning its priorities with the aspirations of the people and the policy direction of government. We are committed to working across party lines and with all stakeholders to promote sustainable growth, enhance citizens’ welfare and safeguard national resources for present and future generations.
Chairman of the Committee, Boniface Emerengwa, said despite Nigeria’s abundant crude oil reserves, the benefits had not always translated into maximum value for citizens.
He noted that the volatility of foreign exchange markets, dependence on the dollar, and economic vulnerabilities made it necessary to explore innovative solutions such as the Naira-for-Crude policy.
Emerengwa added that the committee’s mandate was to critically examine the feasibility and sustainability of the policy, engage with stakeholders across government and industry, and make evidence-based recommendations to guide the House.
While on Channels Television’s ‘The Morning Brief’ yesterday, DAPPMAN spokesperson, Ikem Ohia, argued that partnership with Dangote would guarantee steady fuel availability across the country.
“Our key interest is to have petroleum products offered at reasonable prices consistently, in a way that there’s no stock-out and Nigerians no longer queue for fuel,” Ohia stated.
According to him, while Dangote Refinery is presently the dominant supplier, a development the marketers welcomed, the core challenge was access and pricing.
He added that to efficiently move petroleum products across the country, DAPPMAN members have, for more than 20 years, built a robust distribution network, with depots strategically located in Calabar, Port Harcourt, Warri and Lagos.
“What we are asking Dangote is to use these depots that are already in existence for us to meet the demands of Nigerians,” he said. Dismissing suggestions that marketers asked for subsidies, the spokesperson stressed that the matter was purely commercial, explaining that most refineries across the globe supply through two models: wholesale bulk lifting by vessels and ex-gantry retail sales.
