Fuel scarcity: Why oil markers can't be punished - Kachikwu

Kachikwu Baru appear before senate committee over petrol scarcity

Kachikwu Baru appear before senate committee over petrol scarcity

Kachikwu, however, said the government has put various measures in place to address the issue of scarcity within the 18 months.

Kachikwu said this on Thursday when he appeared before the senate committee on petroleum (downstream).

"They (government representatives) have also assured us that the refineries are coming on stream with installed capacities".

As part of the solutions to permanently end the scarcity, Kachikwu said the country's refinery needed to be functional. It's a shame that after 40 years, Nigeria can not produce its domestic consumption.

"Since the price of crude is directly proportional to the refined product, we could not import petrol and sell at N145 anymore".

Chairman, Board of Trustees of Independent Petroleum Marketers As sociation of Nigeria (IPMAN), Aminu Abdulkadir, said today's meeting will afford the opportunity to make full disclosure on ways of augmenting marketers' shortfall so that they can come back to the business of fuel importation.

The minister also expressed regrets that some people took advantage of the situation.

Baru said the situation is now under control. The has necessitated the use of trucks to distribute the product across the country. This is a government of the people and they believe Nigerians should not be made to buy fuel for more than N145.

"Independent marketers would not be able to import the product at the current foreign exchange rate, saying the marketers were able to sell for N145 per litre when the exchange rate was N285 per Dollar". The pipelines should be concessioned to allow private participation.

According to the Director of Press in the ministry, Mr. Idang Alibi, the Ministry of Petroleum Resources will like to categorically state that the minister never mentioned nor insinuated the need or plans by the Federal Government to increase the current pump price of petrol.


The Executive Secretary of the association, Obafemi Olawore also called for accelerated attention to the Petroleum Industry Bill before the National Assembly.

The committee is headed by the Minister of State for Petroleum Resources, Ibe Kachikwu.

According to Kachikwu, the meeting was not a fault-finding one but meant to find a lasting solution to the problem of fuel scarcity and ensure that it does not recur as directed by President Muhammadu Buhari.

This is even as the Federal Government has set up a committee to find a long term solution to fuel crisis in the country.

The Chairman, Depot and Petroleum Products Marketers Association, Dapo Abiodun, had on Tuesday disclosed that the marketers could no longer import petrol at a controlled price of N145 per litre.

A lot of issues were raised and a committee was constituted that will meet tomorrow under the chairmanship of the minister of petroleum to further go into the nitty-gritty and to ensure that these problems do not reoccur again.

"There has been a loose enforcement on diversion in the country". Marketers can not import and sell at N145. We have a committee looking at this and we are still going to submit a report for review. This is to enable us get our product directly and sell at the pump price.

He said the executive is now working on modalities to permanently resolve the petrol crisis and prevent it from rearing its head any other time.

The source said that: "The discussion was how to make the fuel available nationwide".

Recommended News

  • Citing Court Order, Trump Administration Resumes Accepting DACA Renewal Applications

    Citing Court Order, Trump Administration Resumes Accepting DACA Renewal Applications

    The agency will not be accepting new applications from immigrants who may have been eligible for the program, but never applied. Alsup said the reasoning to end the program was based on a misinterpretation of the law and voided the president's decision.
    'The Strolling Lifeless' renewed for ninth season, Scott Gimple out as showrunner

    'The Strolling Lifeless' renewed for ninth season, Scott Gimple out as showrunner

    Kang first joined the show as a story editor and later writer in Season 2, being upped to producer at the beginning of Season 3. He also recognized the importance of keeping audiences excited and to continue the connection they have with the characters.
    Deandre Ayton, Allonzo Trier help Arizona Wildcats beat OR  90-83

    Deandre Ayton, Allonzo Trier help Arizona Wildcats beat OR 90-83

    OR (16-2) shot a season-low.382 but held Arizona to.293 shooting - including a 2-of-18 stretch to open the second half. In 40 minutes, she collected 22 points, 11 rebounds, 4 assists, 1 steal and 4 threes with 2 turnovers.
  • Djoko, Wawrinka and Muguruza all battling to make the Aussie Open

    Djoko, Wawrinka and Muguruza all battling to make the Aussie Open

    Williams is obviously the biggest name there, and is not yet ready for Grand Slam competition following the birth of her child. Venus will open against Belinda Bencic , a tough go for her first matchup.
    Adrian Gonzalez to sign with Mets, pending physical

    Adrian Gonzalez to sign with Mets, pending physical

    Gonzalez likely won't be the opening day starter in NY , as the Mets recently signed Lucas Duda to a three-year, $39 million deal. The Amazin's have agreed to terms with free agent Adrian Gonzalez pending a physical, a source confirmed to the Daily News.
    Iran says nuclear deal with major powers not renegotiable

    Iran says nuclear deal with major powers not renegotiable

    Trump also extended the waivers of key economic sanctions that were lifted under the agreement limiting Iran's nuclear program. He said Iran's restraint on long-range ballistic missile programs also must be linked to sanctions relief.
  • X Factor's Honey G looks VERY different now

    X Factor's Honey G looks VERY different now

    When you think of Honey G , you probably think of gold bomber jackets, huge black shades and a cap. When she saw her new look she said "I've never seen this side of myself before in my life!".
    Florida mother mistakenly murdered in love triangle gone awry, report says

    Florida mother mistakenly murdered in love triangle gone awry, report says

    The only similarity between Zengotita-Torres and the intended target was that they both worked at the same store, the report said. Following a progression of exchanges, police captured Lopez-Ramos, who drove them to the next two suspects for the situation.
    Fiat Chrysler to invest $1 billion in MI  - adding 2'500 new jobs

    Fiat Chrysler to invest $1 billion in MI - adding 2'500 new jobs

    Jeep is one of several brands in an FCA portfolio that also includes luxury Maseratis, sporty Alfa Romeos and mass-market Fiats. The Saltillo plant will eventually be retooled to build a future commercial vehicle - perhaps something van-shaped.
  • Yerry Mina: Joining Barcelona means indescribable pride

    Yerry Mina: Joining Barcelona means indescribable pride

    I will be calm and I'll try to control the adrenaline and I'll adapt to the group with my dancing. And here I want to make history with everyone. " I always do it and I hope to succeed ".
    T25-Texas A&M-Tennessee

    T25-Texas A&M-Tennessee

    Duane Wilson came off the bench and had six points and six assists Saturday after missing three games with a knee injury. Gilder scored 16 points, Hogg had 13 and Tonny Trocha-Morelos had 10 for Texas A&M, which committed 17 turnovers.
    Israel PM Benjamin Netanyahu to arrive on six-day India trip

    Israel PM Benjamin Netanyahu to arrive on six-day India trip

    The Israeli PM will be accompanied by a 130-member delegation from various sectors including cyber, agriculture and defence. Netanyahu's visit to India is only the second one by an Israeli prime minister and comes after a gap of 15 years.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.