Fuel scarcity: Senate brokers truce as marketers start lifting fuel

The lingering fuel scarcity experienced across the country may resolved within 24 hours, thanks to the intervention of senators.
Senate yesterday brokered truce between all stakeholders in the oil industry, with the Coordinating Minister for the Economy and Finance Minister, Ngozi Okonjo-Iweala, group managing director of the Nigeria National Petroleum Corporation (NNPC), the Department of Petroleum Resources (DPR) as well as the major and independent oil marketers in attendance.
Stakeholders also present at the meeting convened by the Senate were NNPC, major oil Marketers Association of Nigeria (MOMAN), Depots and Marketers Association of Nigeria (DAPMAN), among others.

Chairman of the Senate Committee on Petroleum Resources (Downstream), Magnus Abe, presided over the session, alongside his colleague in the Upstream Committee, Senator Paulker Emmanuel.
The Abuja meeting resolved, among others, that oil marketers and depot owners, including the NNPC must commence lifting petroleum products immediately and that depot owners must work round the clock for the next two weeks until normalcy returns across the country.
Also, the meeting agreed that the Committee of the Central Bank of Nigeria (CBN) and Petroleum Products Pricing and Regulatory Agency (PPPRA) set up to reconcile outstanding debt owed oil marketers should continue reconciliation of figures.
In the event that the committee is unable to conclude reconciliation of figures to determine the outstanding debt, the next administration will take over.
The finance minister and the oil marketers were, however, unable to agree on the correct amount being owed by government.
While the oil marketers claimed government owed N200 billion, the minister insisted that over N150 billion had not been verified.
It also emerged at the Senate meeting that the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG) have called off their industrial action.
At a point during the meeting, senators, including the Finance Minister and the oil marketers went into a closed-door meeting, which lasted several minutes.
Part of the resolution read out by Senator Abe read:
The Minister of Finance will give an undertaking to the major marketers (MOMAN) and DAPMAN that the work of the committee being headed by the CBN/PPPRA will be concluded. If the committee can conclude the verification of the outstanding claims before the end of the life of this administration, it would be reflected in the handover notes to the new president. If it is not concluded, then, the fact that such a committee was set up and is working will be reflected in the handover notes and a copy of the letter conveying the existence of this committee will be sent to MOMAN and DAPMAN and also, a copy will be sent to us in this committee.
“On the basis of that agreement, MOMAN will offer whatever cooperation that is needed to enable lifting of petroleum products to begin nationwide within six hours.
“MOMAN has also agreed to give a similar undertaking to NARTO to pay existing transport costs as has been determined by them. MOMAN will give a written undertaking to NARTO and a copy will also be sent to this committee. NARTO and its affiliates nationwide will commence lifting of petroleum products from available fuel depots within the next six hours.
“DAPMAN is to instruct all their depots that have products to open those depots up for lifting of petroleum products within the next six hours.”