Crude sale in naira: FIRS Commends NPA-led one-stop shop team

The Chairman, Technical Sub-Committee, on the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in Naira, Zacch Adedeji, has commended the One-Stop-Shop (OSS) team, led by the Nigerian Ports Authority (NPA) for ensuring smooth operations. Speaking when he visited the NPA Headquarters on Thursday 19th December, 2024, Adedeji […]

The Chairman, Technical Sub-Committee, on the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in Naira, Zacch Adedeji, has commended the One-Stop-Shop (OSS) team, led by the Nigerian Ports Authority (NPA) for ensuring smooth operations.

Speaking when he visited the NPA Headquarters on Thursday 19th December, 2024, Adedeji who is also the Executive Chairman, Federal Inland Revenue Service (FIRS), thanked the team led by NPA for “playing a pivotal role in the successful implementation of the presidential directive on the domestic sales of crude oil and refined products in Naira.”

Adedeji said: “We recognize that this pioneering effort is a significant achievement, and no doubt reflects your commitment and patriotism.

“Thus, we encourage you to maintain the hard work and dedication that has made this initiative a success.

“We also extend our gratitude to all participating agencies for their invaluable cooperation and support. Thank you for your outstanding teamwork and service to the nation.”

Responding to the development, Managing Director Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, said “this commendation can only spur us to do more in advancing this noble initiative. Let me seize this moment to specially appreciate the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola for providing the leadership that catalyzed our success on this venture”.

“We also thank the tireless Chairman of the Technical Sub-Committee, Zacch Adedeji for the unwavering support that culminated in this milestone,” he added.

With the success of this audacious initiative to sell crude and allied products in Naira to domestic refiners, President Bola Ahmed Tinubu has, in addition to saving losses running into billions of Naira, guaranteeing national energy security, deepening balance of trade and creating jobs, also sustainably put an end to the scarcity of petroleum products and the excruciating queues that hitherto characterized the yuletide season.

This development is coming on the heels of the announcement by Dangote Petroleum Refinery of a reduction in the ex-depot price of its Premium Motor Spirit (PMS) to N899.50 per litre.

Other members of the team are drawn from Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief of Naval Staff, Nigerian Navy

Nigerian Export Processing Zone Authority (NEPZA), Nigeria Customs Service Comptroller General, Nigeria Immigration Service, Federal Inland Revenue Service (FIRS), Port Health Service, Nigeria National Petroleum Corporation (NNPC) Ltd. National Drug Law Enforcement Agency and Dangote Refineries Ltd.

Others are the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN) and Major Energies Marketers Association of Nigeria (MEMAN) that constitute the OSS team.