Business & Economy
Just In: Fuel scarcity to end in 3 days – NNPC
The Nigerian National Petroleum Corporation Limited has stated the fuel queues in Abuja and Lagos will vanish in 3 days, stating that were issues around supply disruptions which have now been resolved.
This was disclosed by Mele Kyari, Group Chief Executive Officer, NNPC Ltd in an interview with Arise News on Sunday.
The oil boss also disclosed that NNPC is fully aware that there are issues with pricing and expects prices to normalise for the Nigerian consumer.
What the NNPC boss is saying
Kyari said, “First of all, there are issues around supply disruptions, this we are overcoming it, we have resolved them, and in the next 3 to 4 days, people will see relief and it ( fuel queues) will vanish.
“As we all know, there are no fuel queues in most parts of the country except Lagos and Abuja and we understand the real logistics issues and I am confident within the next 2-3 days this will vanish.
On PMS pricing, Kyari added, “there is no question around it (PMS price); the President has authorized his discretion, and the right decision to increase the cost of transporting fuel by N10, that means transporters will be able to take product from any depots to the furthest fuel station without any delay.”
“We also acknowledge that there are some facing logistic challenges, particularly in the marine sector we are resolving those, and convinced that prices will normalise very soon”, he added.
What you should know
It was reported last week that Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have attributed the lingering fuel scarcity in Lagos and its environs to the inability of the Pipelines and Product Marketing Company (PPMC) to supply products to the Ejigbo depot.
IPMAN pointed out that they are hoping that the marketers can buy fuel from PPMC, which is a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited so they can also sell at N165 per litre at retail outlets.
They said, “We are still waiting for the PPMC to supply products to our depot so that we can buy at the controlled price and can also sell at N165 per litre at our retail outlets.’’
