The Executive Secretary of Petroleum Product Pricing and
Regulatory Authority, PPPRA, Senator Farouk Ahmed, has
stated that the All progressives Congress is not the brain
behind the ongoing fuel scarcity across the nation.
Ahmed attributed the development to the two rounds of
devaluation carried out by the Central Bank of Nigeria
between November last year and February 2015.
The ruling Peoples Democratic party had accused the
opposition party of sponsoring the ongoing fuel crisis in
the country.
But speaking when he appeared before the Senator
Magnus Abe-led Committee on Petroleum (Downstream)
to defend their 2015 budget, Ahmed noted that the APC
has no hand in the ongoing situation as earlier claimed by
the PDP.
Ahmed said PPPRA had to seek the advice of the apex
bank before it could eventually draw up a new template.
Ahmed said, “The recent events have to do with delay in
the arrival of cargoes. Non-arrival of cargoes made it
difficult for petroleum motor spirit to be delivered. What
actually complicated it was the devaluation of naira – two
times.
“The first one that took place on November 28 devalued
Naira from N155 to N168 to $1. The second one that took
place on February 18 brought the exchange rate to N199
to $1 – these two developments brought a lot of confusion
into the oil sector.
“Marketers were not sure of the actual delivery cost. We
had to draw a new template as advised by the CBN. The
delay we have now is caused by the November
devaluation. But the reality is that the policy is clear now.
“The Minister of Finance, PPPRA and other agencies are
working closely to ensure that outstanding bills are paid.
And that one had been done now.
“Yesterday, (Monday) we got an approval from the Budget
Office for payment of all outstanding bills. We have
adjusted the template now. We have to put the exchange
rate at the interbank rate. Now, we have a direction”.
expressng.com/2015/03/apc-not-behind-fuel-scarcity-nigeria-pppra/

As the election date draws closer, let's not be surprised that the PDP will come up with more preposterous accusations...but it won't stop us from voting for General Muhammadu Buhari

YEA IT WONT STOP US FROM VOTING GOODLUCK

It is only a fool that will believe that APC is behind it.

Sometimes I wonder why the government takes us for a fool and spill some lies that even 10years old can't believe. Are we that foolish as a citezen or what is going on?

Whatever... I don't see how this has solved the fuel scarcity problem

It's only d brainwash pdp e-thugs will believ dat rubbish cuming out frm dia national chairman's smelling maut

Muazu knowing fully well the consequence of such scarcity at a critical time like this just had to blame the opposition for its woe.s.

Shame on PDP. I hope the pdp e-rats on nairaland come and tell us now who is a liar now between apc and pdp.