HOUSE OF REPS SEEKS 90-DAY FUEL RESERVE FOR NIGERIA
The House Committee on Petroleum Resources (Downstream) has backed plans to increase Nigeria’s strategic petroleum reserve from 20 days to 90 days by 2027.
Chairman of the Committee, Ugochinyere Ikeagwuonu, disclosed this in Abuja during a technical briefing, where the committee passed a vote of confidence in the Tinubu administration over pipeline security.
Ugochinyere said the plan to increase the reserve was supported by sustained domestic supply.
The committee also noted that contributions from local refineries to national petrol supply have increased by over 75 per cent, with more than 25 days of supply sufficiency and no reported shortfalls so far.
Two subcommittees have been set up to investigate two petitions concerning gas distribution licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and allegations of abuse of office against the Executive Vice President, Downstream, of NNPC Limited, Mumuni Dagazau.
