NPA’s OSS Team Commended for Outstanding Performance in Domestic Crude Oil Sales

NPA’s OSS Team Commended for Outstanding Performance in Domestic Crude Oil Sales

By Prince Bennett Davies

The NPA OSS team has received commendation for their outstanding performance in facilitating domestic crude oil sales in Naira. Zacch Adedeji, Chairman of the Technical Sub-Committee on the implementation of the federal government’s policy on domestic sales of crude oil, and also the Executive Chairman of the Federal Inland Revenue Service (FIRS) on Thursday, December 19, 2024, on a visit to the NPA headquarters, have praised the One-Stop-Shop (OSS) team for their dedication and hard work.

This achievement is a significant milestone in Nigeria’s energy self-sufficiency and economic growth journey. The successful implementation of the policy on domestic sales of crude oil in Naira is expected to reduce pressure on the Naira, eliminate unnecessary transaction costs, and improve the availability of petroleum products in the country

The OSS team’s commendation is a testament to their commitment to excellence and their role in driving Nigeria’s economic growth.
Extended gratitude to all participating agencies for their invaluable cooperation and support, teamwork and service to the nation.

Responding to the development, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, said, “This commendation can spur us to do more in advancing this noble initiative. Let me seize this moment to especially 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.”.

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, guaranteed national energy security, deepening the 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 the 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, and Nigeria National Petroleum Corporation (NNPC) Ltd.
National Drug Law Enforcement Agency, Dangote Refineries Ltd.

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