End Of Petrol Scarcity? Jubilation As FG Makes GROUNDBREAKING Announcement Amid Current Fuel Crisis
Senator Heineken Lokpobiri, Nigeria’ s Minister of State for Petroleum Resources, recently addressed concerns regarding fuel prices and availability in the country. During a briefing with reporters at the State House, following a meeting with Vice- President Kashim Shettima, Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), and National Security Adviser Mallam Nuhu Ribadu, Lokpobiri provided insights into the current situation and future expectations.
The meeting, which took place at the directive of President Bola Tinubu, was convened to address the widespread hardship faced by Nigerians due to fluctuating fuel prices and scarcity. President Tinubu, according to Lokpobiri, was particularly concerned about the adverse impact these issues were having on the daily lives of citizens. In response, Lokpobiri assured that significant steps were being taken to stabilize the fuel supply across the nation.
Lokpobiri highlighted that the core issue at present is ensuring the consistent availability of fuel throughout the country. He stated that there is a strong expectation that by the weekend, fuel availability would improve significantly, leading to a more stable supply situation. This anticipated increase in fuel distribution is expected to help alleviate the current price volatility that has been observed in various regions.
Despite these assurances, Lokpobiri acknowledged that fuel prices might continue to vary depending on the location. He explained that while some areas might experience higher prices, others might see prices that are considerably elevated. However, he remained optimistic that once fuel distribution is adequately managed and products are available in sufficient quantities nationwide, the prices would eventually stabilize.
A crucial point made by Lokpobiri was that the Nigerian government is not involved in fixing fuel prices. He reiterated that the petroleum sector in Nigeria is deregulated, meaning that fuel prices are determined by market forces rather than government mandates. This deregulation aims to foster competition and efficiency within the sector, though it also means that prices can fluctuate based on supply and demand dynamics.
Lokpobiri reassured the public that there is an ample supply of fuel currently in the country to meet the needs of Nigerians. He emphasized the importance of avoiding panic buying, which can exacerbate shortages and lead to even higher prices. The minister stressed that there is no need for alarm as the government is working diligently to ensure that fuel reaches every part of the country and that the market adjusts to stabilize prices.
In conclusion, the government is actively addressing the fuel supply issues to mitigate the hardship faced by Nigerians. Lokpobiri’ s statements reflect a commitment to improving fuel availability and stabilizing prices through enhanced distribution efforts. He called on Nigerians to remain patient and avoid panic buying, assuring them that the situation is expected to improve soon with the planned increase in fuel availability.
