?House of Representatives Backs Plan for 90-Day Strategic Fuel Reserve in Nigeria

The House of Representatives Committee on Petroleum Resources (Downstream) has thrown its weight behind plans to expand Nigeria’s strategic petroleum reserve from the current 20-day supply to 90 days by 2027.


?Speaking at a technical briefing in Abuja, Committee Chairman Ugochinyere Ikeagwuonu stated that the ambitious reserve expansion is anchored on a increasingly steady and sustained domestic fuel supply.


He noted that contributions from local refineries to the nation's petrol supply have surged by over 75 percent, providing more than 25 days of supply sufficiency with no reported shortfalls to date.


?During the briefing, the committee also passed a vote of confidence in the Tinubu administration regarding its ongoing efforts and performance in securing critical pipeline infrastructure.


?In addition to reviewing supply capabilities, the committee constituted two subcommittees to investigate separate petitions.


The first probe will look into gas distribution licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), while the second will address allegations of abuse of office leveled against Mumuni Dagazau, Executive Vice President (Downstream) of NNPC Limited.


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