The Federal Government has assured Nigerians that there will be no fuel scarcity, despite recent concerns over the naira-for-crude oil deal and disputes involving the Dangote Refinery.
In a statement released after a meeting of the committee overseeing the crude-for-naira initiative, the government said energy security and price stability remain top priorities. The committee, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained that reports about Dangote Refinery suspending the deal had been resolved.
“For the avoidance of doubt, the crude oil for naira initiative will continue,” the statement read. It also noted that issues between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) are being addressed urgently and in good faith.
The meeting was attended by senior officials, including the Ministers of Finance and Budget, the FIRS chairman, and representatives of the NNPC, CBN, Afreximbank, and Dangote Refinery. They all agreed that Nigerians should not expect fuel scarcity or price hikes.
The Dangote Refinery also confirmed that it has resumed selling fuel in naira after pausing the arrangement briefly due to an exhausted allocation. In a memo to marketers, the refinery said sales in naira had restarted immediately, thanks to the intervention of the government’s technical committee.
Meanwhile, PENGASSAN had earlier directed its members nationwide to go on strike, accusing the refinery of sacking more than 800 Nigerian workers and replacing them with over 2,000 foreigners. The union described the action as a violation of labour laws and vowed not to end the strike until the workers were reinstated.
It also announced 24-hour prayer vigils and called for government intervention. However, with the Federal Government now stepping in, there are hopes that the strike action will soon be called off.
