Petrol scarcity: No plans to hike pump price- NNPC 

From Uche Usim and Adewale Sanyaolu, Abuja

The Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), Mr Mele Kyari, on Wednesday, foreclosed all possibilities of a hike in petrol pump price, assuring that the persistent queues at filling stations will fizzle out in days ahead as 1.7 billion litres of the commodity was currently warehoused in its facilities and being distributed nationwide.

Kyari, who spoke to newsmen after a meeting with the leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petrol Tanker Drivers (PTD), said that arrangements were in place to ensure 24 hours loading in all depots.

“This will ensure that scarcity created by panic buying will now be freed so that normalcy will return to filling stations. Typically in situations like this, people go to the filling stations and buy in excess of what they need and this is what additional supply will resolve. I am very sure that very soon we will see relief from this”, he assured.

Kyari, who maintained there were no plans to increase the pump price of petrol, urged marketers to sell  at the approved government  price.

He added that Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) were on the same page with the NNPC to sanction defaulting stakeholders.

Kyari stated that the NNPC is further intensifying efforts to resolve distribution hitches being experienced in some parts of the country due to logistics issues.

“We have engaged depot operators to load products round the clock to accelerate the restoration of normal distribution”. The GMD also disclosed that it has engaged the services of government security agencies to ensure that all products loaded get to the right destination and affirmed that sanction will be melted to any operator selling above the stipulated pump price.

“We  sincerely apologize to our people and urge Nigerians to continue to be patient as we strive to return the situation to normalcy. “Additionally, the Authority will carry out necessary sanctions allowed by law on any defaulting depot owner and this will ensure that Nigerians will continue to buy the product at the approved price”, he added.