Oil Marketers Task NIMASA, NPA to Adopt Naira Transactions in Ports

Oil Marketers Association of Nigeria has urged the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Ports Authority (NPA) to obey Federal Government’s directive on Naira transactions for ports charges.

This is contained in a statement by Mahmood Tukur, Vice Chairman II, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Sunday in a statement.

The federal gvernment through its downstream regulator, and based on agreement reached with stakeholders, directed ports charges to be collected in Naira.

The directives was contained in a communique issued in November 2021, and signed by heads of the Nigeria Midstream and Downstream Petroleum Regulation Authority, Nigeria National Petroleum Company Limited (NNPC Ltd), Major Oil Marketers Assocoation of Nigeria and DAPPMAN.

Tukur alledged that the agencies were yet to complied with directives and continued to collect charges in dollars.

“Government gave directives that these agencies should henceforth charge marketers in Naira, but that had not been implemented. That’s a major challenge.

“The dollar price is practically driven by demand, if there is no supply, obviously the price will rise. So, every time a vessel needs to berth, we have to pay ports charges in dollars.

“But we are saying that can be paid in Naira. That’s one way of actually taking demand (for dollars) out of the market and it will cool the FOREX effects.

“If these products are consume locally and destine for local ports, why is the NPA and NIMASA charging in dollars?

“They should simply implement a directive given by the government, and we can assure that this will also bring down the price of petroleum products,” Tukur said.