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Fuel Scarcity In Nigeria: NNPC Moves To Solve Crisis

Unic Press UK: The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Kacalla Baru, Tuesdaymaiknnnnnn cut short his trip to London to attend to the scarcity of fuel in several parts of Nigeria, the NNPC Public Affairs Division said.

Baru, who had traveled to London to receive the Forbes Oil & Gas Man of the Year Award 2017, said he had no other option than to return to his base to attend to a “matter of urgent national importance.”

In a statement, the NNPC said that the ex-depot petrol price of ₦133.38 per litre and the pump price of ₦143/₦145 per litre remains unchanged, and that there is enough stock of fuel to meet daily demands.

The NNPC further advised all to shun panic buying and disregard rumours of an impending hike in the prices of petroleum products.

As of 2016, Nigeria ranked 13th among the producers of crude oil, with circa 1.9 million barrels per day. Yet, quite often fuel scarcity has occurred. Over the years, the national authorities have failed to bring the country’s oil refineries to operate optimally, having opted to be major importers of petroleum products. It is believed by several oil experts and analysts that the importation of fuel and other petroleum products has been an avenue to enrich corrupt government officials and their cronies.

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