Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari says Nigerians should not go into panic buying of petrol as the queues currently being witnessed would soon disappear.
In an interview with State House Correspondents on Tuesday, Kyari said the queues are a result of an impasse between tanker owners and their drivers but NNPC had since intervened and the matter would be resolved within a week.
He said: “These queues will go away. It’s because there was an industrial action by petroleum tanker drivers against their employers, the National Association of Road Transport Owners around their compensation package and those issues were not resolved till yesterday. Until we intervene to ensure that there’s an amicable settlement between the parties so that they will have peace, then normal loading operations will commence from the depots.”
He assured Nigerians that there is adequate supply and already, tankers are loading petroleum products from all the depots thus, no cause for alarm.
“As I speak to you at this moment, loading has commenced in all depots in the country, dispatches of trucks are ongoing in all the depots in the country and they have called off the strike for a period of one week to enable us intervene and find a solution. So, there’s really nothing fundamental that is happening now,” he added.
No increase in pump price
Kyari said consultations are ongoing and frantic efforts are on track, to address the problem of subsidy, as he also assured there wouldn’t be any increase in the pump price of premium motor spirit (PMS).
“Subsidy is a policy matter, I’m sure you’re aware of this, there are engagements going on within the government to get the best framework for having a fully deregulated PMS market. As this is going on, we are engaging all parties and all stakeholders as government and to make sure that at the end of the day, there’s an exit that is beneficial to the ordinary man.
“That is why we know we will not be able to complete that in the month of May and therefore, we declared that there will be no increase in fuel price. I have no update in hand now, this is beyond me, but we’re engaging to make sure that we have the right timeline,” he said.
Kyari said his visit to the President was a routine whereby he comes often to brief the President on happenings in the petroleum market.
Nneka Ukachukwu
