By Yahaya Umar, Abuja
President Bola Tinubu has emphasised the need for immediate reflection and action to ensure stability in fuel supply and pricing.
In this vein, President Tinubu yesterday mandated the Vice-President, Kashim Shettima to convene a high-level meeting with a view to addressing the challenges in the oil and gas industry, especially the prevailing issues of pricing and scarcity.
Consequently, Shettima met with the Minister of State for Petroleum Resources, Oil, Mr Heineken Lokpobiri, Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, and the Executive Director, under the Nigerian Mainstream, Downstream and Petroleum Regulatory Authority, Ugbogu Ukoha at the Presidential Villa, Abuja.
Speaking to State House correspondents Lokpobiri said Shettima in line with the President’s directive, is spearheading efforts to ensure that petroleum products are accessible across the country.
According to him, “This intervention is expected to address the uneven distribution of fuel, with some areas facing shortages while others experience higher prices”.
Measures, he added are being put in place to increase the availability of petroleum products nationwide by weekend
Prices the Minister noted may vary in part of the country.
However, he assured that the Federal Government’s goal is to ensure that fuel becomes more accessible with the multiplier effect of prices stability.
The Minister also assured the Federal Government has no hand in fuel prices, saying this was in line with the fact that the sector remains regulated.
On his part,the Executive Director of Nigerian Mainstream Downstream Petroleum Regulatory Authority, NMDPRA, Kalu Okuoha, who was also at the meeting told State House correspondents “the Vice+President summoned us and we’ve been with him to brief him about what is going on across the country. And 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 in Nigeria, and that was why he directed the Vice-President to call this meeting, for us to reflect on what is going on in the country.
“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 other areas, much higher in some other locations, and in some locations, much more than you know other areas.
“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.
“The summary is that the President is empathetic about what’s going on. That’s why he directed this meeting. 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. That is what I want to convey to Nigerians”, he stated.
AljazirahNigeria reports that fuel pump price reviewed upward on Tuesday from N617 to N897
Meanwhile, the price hike in petrol prices is generating reactions from across various segments if the Nigerian society.
