The Minister of State for Petroleum Resources, Heineken Lokpobiri, has assured Nigerians that petrol is available despite the current scarcity and hike in price.
Speaking to journalists at the Presidential Villa in Abuja on Thursday, Lokpobiri said: “What is important is that products are available in the country.”
The minister attributed the scarcity to distribution challenges and assured Nigerians that the situation would be resolved before the weekend.
He said:
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“We believe that between now and the weekend, there will be availability of products across the length and breadth of the country.”
According to him, the government is not fixing prices, as the sector is deregulated and that confidence that with the availability of products, the price would stabilize.
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He said:
“But what is important is that government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find its level.”
The minister’s remarks come after a meeting with Vice President Kashim Shettima, Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL) Mele Kyari, and National Security Adviser Nuhu Ribadu to address the recent hike in petrol price.
Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Kalu Okuoha also spoke to journalists.
Okuoha said:
“The objective of the regulator is to ensure that there’s increased operating hours from all loading depots; vessels are being cleared promptly and extended hours where safety can permit truck outs as well.”
He also talked about the importance of local refining, saying: “More importantly also is the reinforcement of the support being given to local refinancing, because with increased production there will be higher supply, which will stabilize the price.”
