Nigeria calls for private participation in oil sector

Toyin Odesomi, Lagos

Nigeria’s Minister of state for Petroleum Resources, Ibe Kachikwu has called for more private sector participation in addressing petroleum issues in order to achieve long term solution.

Kachikwu who spoke at a town hall meeting in Lagos said though the Nigerian National Petroleum Corporation, NNPC, was doing so much to meet the demands of Nigerians, the approach was a short-term solution.

”The private sector needs to drive this business… because ultimately, without doing that, we are never going to find a solution to this problem,” the Minister said.

Kachikwu said the NNPC was currently burdened with the entire work of supply and regulation, and takes all the loss.

“That model must change. The private sector will have incentive to drive their business, ” he said.

He also called on Nigerians to collaborate with government on the issue of tackling the lingering fuel scarcity across the country by reporting accordingly, incidents of fuel diversion which has been attributed as one of the reasons for the persistent scarcity.

“We started publishing deliveries and telling you the filling stations they were allocated to, so if you don’t find products in those filling stations, there are hotlines to call and for police to report,” he explained.

Kachikwu revealed that over 30 percent of fuel supply was been diverted to other countries rather than points of sale in Nigeria, revealing that no truck in Nigeria has a tracking device thus making it difficult to monitor their movements from point of loading to the point of delivery.

Confidence O.