The Minister of State for Petroleum, Heineken Lokpobiri has assured the public that the fuel crisis experienced across the nation would Soon be resolved, noting that the Nigerian National Petroleum Company Limited (NNPCL) has sufficient fuel supplies to meet national demand.
The Minister of State for Petroleum made this known while addressing State House Correspondents in Abuja, after an emergency meeting on the order of President Bola Tinubu, with the Vice President Kashim Shettima to address the ongoing fuel scarcity across the country.
Lokpobiri who insisted that the government was not responsible for recent hikes in fuel costs, urged Nigerians to remain calm, adding that increased availability of the commodity would foster competition and drive down petrol pump prices.
“What is important is for us to convey to Nigerians that the President is empathetic about what is going on in the country. He is concerned about the hardship of Nigerians, and that was why he directed the Vice President to call this meetin for us to reflect on what is going on in the country.
“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 other areas, muc higher in some other locations, and in some locations, much more than you know other areas.
“But we believe that by the time there is availability of products across the country, the price itself is stabilized.
“Government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will finditss level. And this is important for Nigeria to know.
“There is enough product in the country to be able to meet the demands of Nigerian. Theree should be no panic buying. And we also believe that Nigerians need to know tha the government is not fixing prices. That is what I want to convey to Nigerian, ” he said.
Ugo Kalu Okuoha, Executive Director at Nigerian Mainstream Downstream and Petroleum Regulatory Authority (NMDPRA), also maintained that all effort is being made to stabilize fuel supply.
“All regulatory efforts are now geared towards stabilizing supply, with a resultant impact that it will be positive also on the stability of price.
“To that objective, the regulator is ensured that there’s increased operating hours from all loading depots, vessels are being cleared promptly and extended hours where safety can permit for truck outs as well.
“More importantly also is the reinforcement of the support being given to local refinance, because with increased production from them, we, indeed, like the minister, has said, there will be higher supply, which will stabilize the price. That’s the effort that the regulator is making,” he said.
Also present at the meeting were the Chief Executive Officer of the NNPC, Mele Kyari, National Security Adviser, Nuhu Ribadu, and other stakeholders
