The Federal Government has approved the release of fuel from the nation’s strategic reserves to mitigate the scarcity of the product nationwide.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said this in a chat with the News Agency of Nigeria on Wednesday in Okirika, Rivers.
Alison-Madueke spoke with NAN on the sideline of the inauguration of the Nigerian National Petroleum Corporation Jetty in Okirika Local Government area of Rivers.
“We have put all our weight and our strategic reserves out to ensure that we keep it (scarcity) as minimal as possible.
“I do believe that the issue of fuel scarcity and subsidy payment is also being handled aggressively by the Ministry of Finance.
“On our side, we will ensure that our strategic reserves are put to very good use and that we keep it (fuel scarcity) as low as possible,” she told NAN.
Alison-Madueke said the turnaround maintenance and rehabilitation of the nation’s refineries were presently ongoing, adding that the completion of the exercise would guarantee accessibility of products by consumers.



http://thenationonlineng.net/new/news-update/fg-moves-to-mitigate-fuel-scarcity/

Seriously?? This is long overdue na... All talk and no act make jack a.....

am still on queue and waiting for the mitigation effect...

This is a good move by the FG at least it will alleviate the sufferings of the masses I have a lot of confidence in this administration

if this is done b4 christmas season, i believe it will go a long way to help cut cost for travelers during d festive season

story, story

Really?

Medicine after death.

Has is become so bad that the F.G will have to go to our reservoirs to supply petrol

Fuel scarcity has come to stay.
It is as natural as the press daily report of crime, police killings, BH and corruption.
If it is not so, how come newspapers dont even bother reporting the daily hardship we go through trying to get fuel anymore?

Let me guess, the fuel subsidy crooks will get their $$$$ cash anywayz, since NNPC is unable to meet up to 20% of local consumption

Commendable move. Reserves are basically meant to cushion effects of scarcity. Now that the marketers are aggrieved that Govt has sanitize the oil sector, they want to sabotage efforts to this admin. with the reserve, scarcity of oil will be reduced to the barest minimum

they are always reactional in their decisions......as if the scarcity tin just started. smh!

Commendable move my butt. You people give GEJ the credit for EVERY SINGLE good thing that happens in Nigeria, no matter the size or triviality. When something bad happens, you rush to find avenues to extricate the man from any blame.

In December 2010 you folks were praising GEJ for 'getting rid of queues at the filling stations'. Now the queues are back, it's suddenly not his fault.

They say local price will be driven by international market demands. Now crude price is nose-diving in the international market instead of this to be reflected back at home they are creating artificial scarcity to even drive the price further than it is in the international market.
I used to pray for crude price to rise so that my country would have enough money to spend. But on realization that it makes no difference having oil or not in Nigeria I have reversed my prayers that oil price should cost even cheaper than a peanut pack.

texazzpete:

In December 2010 you folks were praising GEJ for 'getting rid of queues at the filling stations'. Now the queues are back, it's suddenly not his fault.

if the unlamented monkey known as beaf was still here spinning and spelling and notorious facting he'd be trying to pin this on the unnamed oil marketers

Petroleum sector models are complex especially in cases of government subsidy on the products. Removing subsidy 100% and creating a model for the sector remains the only panacea to occasional scarcities. Releasing supply from the strategic reserves is a temporal quick fix, the corrupt oil marketers are trying to truncate the fight against their corrupt practices. Perfect Petroleum sector model has to be implemented for fiscal discipline in the sector, but it has to start with subsidy removal.

Idokojimmy: Commendable move. Reserves are basically meant to cushion effects of scarcity. Now that the marketers are aggrieved that Govt has sanitize the oil sector, they want to sabotage efforts to this admin. with the reserve, scarcity of oil will be reduced to the barest minimum

Why does the FG have to wait for the scarcity to bite hard before they act on it? why dont you ever demand for competence and the best instead of crumbs? Why is there scarcity in the whole country and the minister of petroleum has not come up with an official statement or the presidency? or cant they feel or see it ? mediocre governmnent

So there is a strategic reserve somewhere and it didn't occur to them to dispense to marketers for weeks. We have unfaithful people at the helms of affair in this country, Government itself is behind this sabotage for them to have an excuse for subsidy removal

thats nice.

oyb:

if the unlamented monkey known as beaf was still here spinning and spelling and notorious facting he'd be trying to pin this on the unnamed oil marketers

that's true what happened to beaf? Where is good ol'beaf? Lol.

For great NEWS, GISTS, TUTORIALS, REVIEWS, HOT MUSIC DOWNLOADS, APPS, FREE BROWSING, GOSSIPS and much more. Visit www.naijaclassic.com

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GEJ OK NAH

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FREE BROWSING, GOSSIPS and much more. Visit www.naijaclassic.com[/quote]

We are tired of false stories Mr FG.

B4 Gej,fuel subsidy budget was within 200 to 300 billion,y did he spend a trilion plus afta less dan 300 was budgeted (In an election year)? Wat changed in subsidisin fuel imidiately he took ova? Wu paid d so called oil cabal witout importation? Wit d level of poverty in Naija,wil it b wise 2 buy fuel @ 140 considerin d percentage of peeps dat liv below a dollar? I honestly think GEJ,NOI n co r evil,they just want 2 grab as much as they can,undastandin d fact dat most of us r lazy thinkers.

Where is this so-called Strategic Reserves located,inside a non-operational oil vessel anchored @ d bank of sea? Nigeria is such a joke. By d way,wia is d country's strategic grain reserves located n watz dia capacity dat can mitigate food scarcity?

Where is this so-called Strategic Reserves located,inside a non-operational oil vessel anchored @ d bank of d Nigerian seashore line? Nigeria is such a joke. By d way,wia is d country's strategic grain reserves located n watz dia capacity dat can mitigate food scarcity?