• Oil & Gas - News
  • Updated: February 10, 2023

FG Directs Widespread Distribution Of Petrol To Marketers

FG Directs Widespread Distribution Of Petrol To Marketers

The Minister of State for Petroleum Resources, Timpre Sylva has announced that the Federal Government has taken audacious steps to end the ongoing petrol shortages across the nation while ensuring widespread distribution of the product.

After touring a few chosen fuel retail locations in Lagos on Friday, Sylva gave the promise.

He said that he had been sent by President Muhammadu Buhari to assess the situation with regard to distribution and pricing regulation.

According to the minister, a government-initiated inter-ministerial intervention aims to assure effective administration of the country's petrol distribution.

He informed them that all the problems that had caused the current predicament had been resolved with the current course of action.

He claims that the situation is good because he saw that goods are readily available in the state.

“Fuel is everywhere, both in Lagos and Abuja.

“I visited many stations in Ikeja and on the mainland. From every indications, there are products everywhere and I want to assure you that the queues will disappear in a matter of days”, he said.

The minister claimed that 15 states nationwide had reached the same position as Lagos, and the President had directed that lines be removed right away.

In response to some marketers' unjustified price increases, he claimed to have ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to step up its regulatory efforts and make sure that marketers adhere to the current price regime.

According to him, nearly 900 of the Nigerian National Petroleum Company Ltd.'s (NNPCL) retail locations were selling fuel at the same price of N184 per litre.

“And that is the official price everybody is expected to sell, but l admitted there are sharp practices still ongoing."

Sylva explained how the situation deteriorated into a crisis point and how the government was unaware of it.

He says that sabotage is crucial in the business because those who wish the nation ill use the impending elections as an opportunity to disrupt markets and sow panic.

The minister emphasised how the problem was made worse by additional elements like security risks, a lack of readily available foreign cash, and currency scarcity.

He said, however, that the inter-ministerial committee that the President had established is not working in concert to address all apparent problems and fill in all potholes.

According to the NAN, NNPCL provided Ijegun-Egba Satellite depots with 150 million litres of gasoline on Thursday to help with shortages.

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