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

FG plans to increase fuel price to N180 per litre

FG plans to increase fuel price to N180 per litre

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".

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