Fuel scarcity
Update: Fuel scarcity will end weekend, minister assures after meeting with VP
Nigerians have been assured there would be fuel at the weekend, ending the prolonged scarcity of the product.
This was the assurance given by the Minister for State for Petroleum Resources, Heineken Lokpobiri, after a meeting with Vice President Kashim Shettima at the State House, Abuja.
Also at the meeting was the Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, and the Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Mugo Okuoha, at the State House on Thursday.
According to the minister, the meeting was at the instance of President Bola Tinubu, who he said was concerned about the hardship being faced by Nigerians.
Lokpobiri said Nigerians should not engage in panic buying, insisting that the government was not fixing prices and the prices would stabilize as soon as the product was made available.
“What is important is that products are available in the country, and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country.
“The price could be high in some areas, much higher in some other locations, and much more higher in other areas.
“But we believe that by the time there is availability of products across the country, the price itself will stabilize.
“But what is important is that the government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find its level. And this is important for Nigeria to know.
“There is enough product in the country to be able to meet the demands of Nigerians, there should be no panic buying. And we also believe that Nigerians need to know that the government is not fixing prices,” he said.
Only on Tuesday, the NNPCL increased the pump price of petrol from ₦568 to ₦855, trailed by nationwide outcry and condemnation from the Nigeria Labour Congress and National Association of Nigerian Students, NANS.
In the same vein, the Trade Union Congress (TUC), the Nigerian Bar Association (NBA) and the Nigerian Medical Association (NMA) also condemned the fuel hike and asked for immediate reversal.
The insisted that the increase would compound the misery of Nigerians who are already faced in the quagmire of economic challeges.
Indeed, the price of fuel was increased a day after NNPC cried out that it was owing fuel supplies because of financial difficulties.
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