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House of reps committees on oil urge security agencies to tackle oil marketers sabotaging sector

Monday Yakubu by Monday Yakubu
May 2, 2024
in Business
0

House of reps committees on oil urge security agencies to tackle oil marketers sabotaging sector

The House of Representatives Committees on Petroleum Downstream and Midstream have called on security agencies to take action against oil marketers sabotaging the sector.

During a joint briefing in Abuja on Wednesday, the chairpersons of the committees, Ikenga Ugochinyere (PDP, Imo) and Odianosen Okojie (APC, Edo), made the plea.

Mr Ugochinyere, chairman of the downstream committee, stated that the committees had been briefed by stakeholders, including NNPC Limited and regulatory bodies, on the ongoing petroleum scarcity caused by logistic challenges and exacerbated by unscrupulous marketers.

“We strongly frown at the activities of middlemen who have taken advantage of the short disruption of supply to maximise profit and generate an excessive gain for themselves, at the detriment of our people,” Mr Ugochinyere said.

He called on security forces to support key stakeholders in the distribution value chain to detect and address acts of economic sabotage such as hoarding, price increment, product diversion, and smuggling.

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The committee plans to engage stakeholders in the sector to prevent future occurrences through roundtable discussions.

Fuel scarcity has impacted major cities across Nigeria in recent weeks, affecting businesses and households. An NNPC Limited official stated on Tuesday that the scarcity would end this week.

However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) threatened to shut down its outlets nationwide due to non-payment of bridging claims totaling over N200 billion.

The House of Representatives summoned the Minister of Petroleum Resources to brief it on the cause of the scarcity and mitigation measures.

Despite assurances from regulators and lawmakers regarding petroleum product availability, many workers are spending the Workers’ Day holiday queuing at petrol stations across the country.

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