President Bola Tinubu has delegated Vice President Kashim Shettima to convene an urgent meeting to address complaints and hardships trailing the recent hike fuel price.
Shettima on Thursday met with the Minister of State for Petroleum Resources, Oil, Mr Heineken Lokpobiri; Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, and the Executive Director, Nigerian Mainstream, Downstream and Petroleum Regulatory Authority, Ugbogu Ukoha at the Presidential Villa, Abuja.
After the meeting, Lokpobiri said President Tinubu is worried and empathetic to the difficulties Nigerians are currently experiencing on the scarcity of petrol.
He said the President has emphasized the need for immediate action to ensure stability in fuel supply and pricing while the Vice President, in line with the President’s directive, is spearheading efforts to ensure that petroleum products are accessible across the country.
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“This intervention is expected to address the uneven distribution of fuel, with some areas facing shortages while others experience higher prices,” he told State House reporters on Thursday.
Lokpobiri assured Nigerians that measures are being put in place to increase the availability of petroleum products nationwide by the end of the week.
He equally noted that while prices may vary in different regions, the government’s goal is to ensure that fuel becomes more accessible, which will ultimately help stabilize prices.
Lokpobiri, however, clarified that the Federal Government has no hand in setting fuel prices, as the sector remains regulated.
He said with increased product availability, it is expected that market forces will naturally bring prices to a more stable level.
“The administration remains committed to addressing the challenges and ensuring that the supply chain can meet the demands of all Nigerians in the coming days,” the Minister stated.
Tinubu is currently on an official trip to China where he is attending the FOCAC summit.
Credible News reports that pump price of petrol was adjusted on Tuesday, raising price per litre from N617 to N897.
Credible News.ng
