STAKEHOLDERS in the petroleum industry are to be invited by the Senate to find a permanent solution to the crisis in the downstream sector, which has gathered momentum since the renewed efforts by government to execute its policy on deregulation.

The Senate has also resolved to begin a week-long retreat in Enugu next week to put finishing touches on issues that would facilitate the actualisation of the nation's electoral reform drive.

In the meantime, the Federal Government has approved N69.3 billion for the five-year review payment of pension arrears in the 2010 budget, the Secretary to the Government of the Federation, Yayale Ahmed (SGF), has said.

Senate's spokesman and chairman of its Information and Media Affairs Committee, Ayogu Eze, who briefed journalists at the end of a closed-door session by the Senate, said yesterday that the Senate was worried about the pains inflicted on Nigerians by the fuel crisis.

Eze said: "We also discuss the problem of fuel scarcity and deregulation and in due course, the Senate will be inviting all the relevant stakeholders to come and address us on all the issues so that we came make an informed decision in all the issues. We cannot wait and watch our people sleep in queues and we are mindful of what has happened in the past and we are not going to allow that kind of situation to happen again. We know that there was a time when people use to spend two to three nights waiting to get petroleum products. We had assurances that we have 40 days fuel sufficiency supply, but we are going to invite all the parties, including Labour, to come and educate Nigerians what the problems are and then we can apply all the legislative therapy to resolve the problems once and for all.

"What is happening is that the government has not even done the deregulation because it says there is no deregulation yet. But there are problems everywhere. There are cars for days waiting to get fuel. You don't expect us to fold our arms and not ask questions.

"Of course, the minister will be involved; the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC); the Directorate of Petroleum Resources (DPR) will be involved, the Petroleum Products Pricing and Regulatory Authority (PPPRA) and Labour will be involved."

On the retreat to be held in Enugu, Eze said: "What engaged our attention was the retreat in Enugu coming up between Monday next week and Saturday and senators were trying to appraise the things we will discuss. We have finally approved a theme, which is: "Legislating for an enduring electoral system in Nigeria." It is a reflection of the desire of the senators to ensure the amendment of the Constitution and to ensure a re-jigging of the Electoral Act to give our people an enduring electoral system."

Yayale, who was represented by the acting Permanent Secretary, Umaru Ambrosa who appeared before the House of Representatives Committee on Pension, disclosed that the Federal Government has already reviewed the pensioners' requests hence the consequent approval.

He said: "We have been working on the issue (pension) even before our July meeting with this committee. We presented it to the President and he directed the Ministry of Finance to incorporate it in 2010 budget. So, I can tell you that N69.3 billion was proposed."

According to him, the SGF was at the House to brief them on the progress recorded on the pension issue, pointing out that the money would be enough to take care of the pensioners.

"I can assure you that the proposed money will be enough to settle the five-year pension arrears because we had got information from various pension offices and we think that will be alright for them. The money includes different salary increases in those years," he added.

Earlier, Chairman of the Committee, Rasak Adewusi, said the interactive session was to enable both the SGF and other stakeholders brief them on the action taken on the issue of the five-yearly review of pensions.

He said: "Only two weeks ago, the House at its sitting passed a resolution on the same issue, urging the concerned authorities of government to act promptly. These efforts underscore the seriousness and importance attached to this seemingly apparent breach of the Constitution by the same Executive branch that swore to uphold it."

According to him, the House will wait and see whether the proposed money will be given to the pensioners.

He, however, warned that if government failed to do so, nothing would be appropriated for execution of other projects.