FG says fuel scarcity to persist for two more months

FG says fuel scarcity to persist for two more months

The Minister of State for Petroleum, Emmanuel Ibe Kachikwu, on Wednesday said fuel scarcity may persist for two more months as oil produced in the refineries would not be sold but kept in a “strategic reserve”, Premium Times reports.

While addressing journalists after leading members of the National Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to meet with President Muhammadu Buhari at the Presidential Villa, Abuja, Mr. Kachikwu said he had no “magic wand” to make fuel available overnight.

He however noted that; “We are going to put a new model to enable us increase the pace and actually get (oil) majors as part of the crew of those to bring in more products so that the NNPC will sort of go back to the capacity of what it used to do and the majors will take over the balance of importation. So over the next two months, we should see quite frankly a complete elimination of this (fuel scarcity). Our strategy is that whatever is produced in the refineries will not go for sale, we are going to keep them in strategic reserve. Because the key problem here is that there is no reserve . A ny time there is a gap in supply , it goes off”.

Leave a Reply

Your email address will not be published. Required fields are marked *