Abuja, Nigeria — Nigeria’s Minister of Petroleum Resources, Heineken Lokpobiri, has reassured the populace that Premium Motor Spirit (PMS), or petrol, should be widely accessible by the weekend. This announcement follows a high-level meeting at the State House aimed at addressing the current fuel scarcity that has been causing significant hardship for Nigerians.
The crucial meeting, which took place on Thursday, included Vice President Kashim Shettima, Mele Kyari, the Managing Director and CEO of the Nigerian National Petroleum Company Limited (NNPCL), and Mugo Okuoha, the Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The session was convened at the behest of President Bola Tinubu, who has expressed deep concern over the fuel shortages affecting daily life across the country.
During the meeting, Lokpobiri urged Nigerians to refrain from panic buying, emphasizing that while the government does not set prices in the deregulated sector, the availability of fuel is expected to lead to a stabilization of prices. He acknowledged that fuel prices may be higher in some areas but predicted that these disparities will diminish as supply levels improve.
Mugo Okuoha highlighted the regulatory measures being taken to address the supply issue. These measures include extended operating hours at loading depots, expedited vessel clearances, and increased support for local refineries. Okuoha assured that these efforts are aimed at not only stabilizing supply but also having a positive impact on price stability.
The meeting and subsequent actions are part of a broader effort by the government to mitigate the effects of the fuel crisis, with President Tinubu’s directive serving as a key response to the ongoing situation. As the government moves forward with these measures, there is hope that the fuel supply will return to normalcy, easing the burden on Nigerian consumers and stabilizing the market.
