The Nigeria Export Processing Zones Authority has reiterated its commitment to ensure the implementation of the presidential directive on reducing domestic petroleum product prices.
NEPZA managing director Olufemi Ogunyemi said this during a courtesy visit to his office by the management of Dangote Refinery in Abuja on Wednesday.
Mr Ogunyemi stated that NEPZA, the Federal One-Stop-Shop Committee on Crude Sale in Naira, and the Dangote Refinery Petrochemicals Free Zone Enterprise have pledged to collaborate in implementing the directive.
He stated that the move was part of the federal government’s ongoing efforts to ensure energy security and stimulate economic growth. According to him, this will be achieved by strengthening local refining capacity and reducing the dollar dependence on crude transactions.
Mr Ogunyemi reiterated NEPZA’s commitment to supporting the committee’s mandate, stressing that the Authority had supervised the construction of the Dangote Refinery from inception to inauguration.
“The mission for energy security is already halfway achieved because the Dangote Refinery and Petrochemicals is a registered Free Zone Enterprise and continues to enjoy incentives from the scheme,” he said.
He said the refinery had already received 480 crude delivery vessels and had commenced production of various petroleum products, including petrol, diesel, kerosene and aviation fuel.
According to him, enabling local refineries to purchase crude oil in Naira will shield the Nigerian economy from exchange rate vulnerabilities and boost domestic capacity.
The NEPZA boss described the Free Trade Zone Scheme as a crucial economic driver and called for more private sector-led initiatives under the framework to fast-track industrialisation.
The coordinator of the committee, Maureen Ogbonna, said that the collaboration reflected the federal government’s political will to reposition the petroleum industry through a cost-effective and sustainable supply chain.
She said the initiative had already started yielding results, adding that the Dangote Refinery was central to the reform process.
“We are encouraged by NEPZA’s openness and willingness to allow access to the Dangote Refinery, which is currently the only operational refinery in the country. This collaboration will set the pace,” she said.
The general manager of Engineering and Strategic Services at Dangote Refinery, Akinsanya Mobolarin, reiterated the group’s commitment to national development and energy sufficiency. He conveyed the support of Aliko Dangote, the chairman of the Dangote Group, for the mandate.
He said the naira-based crude supply initiative, if successfully implemented, would promote industrial growth and stabilise the domestic energy market.
“This refinery is positioned to serve not only local needs but also regional demands, and we are proud to be part of this national economic transformation,” Mr Mobolarin said.
The One-Stop-Shop Committee was established to harmonise regulatory, security and operational support for seamless domestic crude supply to refineries under the new policy framework.
(NAN)