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Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying - Politics - Nairaland

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Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by dre11(m): 6:50am On Mar 25, 2016




Femi Asu and Okechukwu Nnodim

The current fuel scarcity in the country took a turn for the worse on Thursday as motorists and other petrol consumers flocked filling stations in major towns nationwide in what industry stakeholders described as panic buying fuelled by the statement made by the Minister of State for Petroleum Resources, Dr.Ibe Kachikwu, the previous day.

Kachikwu, who is also the Group Managing Director of the Nigerian National Petroleum Corporation, had on Wednesday said despite the efforts being made by the Federal Government, fuel queues would not completely disappear until May.

The statement was said to have also raised the prospect of hoarding of petrol by some marketers who would want to profiteer from the current situation.

On the Otedola Estate and Berger ends of the Lagos-Ibadan Expressway, the Mobil, Capital Oil and Oando filling stations had long queues of desperate motorists and other customers, which spilled onto the road and caused gridlock, while there was no activity at the Conoil and the other Oando station on the axis as of the time one of our correspondents checked.

The minister’s statement also worsened the already bad fuel supply situation in Abuja, Kaduna and Nasarawa states, as hundreds of motorists armed themselves with jerry-cans and besieged the few stations dispensing petrol on Thursday.

Most of them were of the view that since the scarcity would persist for the next two months, it would be wise to fill up their vehicle tanks and stockpile petrol in jerry-cans pending when the situation would improve.

A former President of the Trade Union Congress of Nigeria, Mr. Peter Esele, said, “I think that statement is very unfortunate. If you look at it on the surface, probably the minister just wanted to tell Nigerians the way it is. But again, that is what is on the ground. There is no need for us to colour the challenges that we are facing.”

Esele, however, noted that the comment had created a lot of panic buying in the system, saying, “That is where I actually have an issue with the minister’s statement. He wanted to be upfront. But being upfront means that you can also now unsettle and unbalance the system.

“Right now, what we have is that the system is unsettled based on the minister’s comment. What I would have expected is that he informs his principal, who is the President and Minister of Petroleum, then the principal will now know how to deal with it and communicate to Nigerians effectively.

“Now, we are going to have those (marketers) who even have products who want to hoard and sell at very expensive prices.”

The Chairman, Nigeria Union of Petroleum and Natural Gas Workers, Lagos Zone, Alhaji Tokunbo Korodo, said, “The statement was a little bit blunt. Instead of deceiving Nigerians, he (Kachikwu) made it known to them that there is no magic he can do. It may not be up to that two months because it is not that he is not doing anything; they are doing something tangible.

“The panic buying, which the statement has created, is not good for the system, and it is even portraying this government in bad light. But at the same time, it is a plus to us as Nigerians so that we will prepare very well and be efficient in using fuel.

“The pronouncement is going to create a lot of maximisation of profit by the marketers. Some of them will be hoarding. Can the Department of Petroleum Resources go for any enforcement with this pronouncement? It is not possible because the marketers, if they cannot get it at the controlled price, they will comfortably be selling above the pump price. So, it is a very bad signal.”

However, the Deputy Manager, Public Affairs, DPR, Mr. George Ene-Ita, said the agency would clamp down on any marketer found to be hoarding products.

“For us, it is a routine thing. Our people go out daily and whatever we see there, we take action as appropriate,” he added.

On the Kubwa Expressway, the two NNPC mega stations located on opposite sides of the road had long queues and motorists were determined to buy petrol even in their jerry-cans, despite the fact that the outlets had prohibited the sale of fuel in jerry-cans.

“What do you expect from us after the minister has announced that the scarcity will last till May?” Ogbonnaya Kalu, who armed himself with two 40-litre jerry-cans in front of one of the NNPC mega stations, said.

Queues were also heavy in front of other filling stations like AA Rano, MRS, Conoil and Mobil along the expressway.

Similar situations were observed in the Abuja city centre and in neighbouring states of Nasarawa and Kaduna, as attendants in some of the filling stations were openly collecting N500 from each customer who wished to fill their jerry-cans.

The NNPC on Thursday said it was doing everything possible to end the noticeable fuel queues in most parts of the country in the weeks ahead.

It also stressed that Kachikwu was misquoted on the issue of petrol scarcity dragging on till May.


http://www.punchng.com/petrol-scarcity-kachikwus-comment-fuels-hoarding-panic-buying/
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by HungerBAD: 6:53am On Mar 25, 2016
We are solidly and sordidly behind you.

When he said two months, he did not say there will not be petroleum products. He simply said,it will take two months for everything to be normalized.

His comments was done in good faith.

Nigerians rushing to get fuel too was done in food faith.

So,everything is in good faith.

8 Likes 2 Shares

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by temitemi1(m): 6:56am On Mar 25, 2016
Bunch of incompetent pple!!

22 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 6:57am On Mar 25, 2016
Nigerians undoing and inflicting hardships on themselves from time immemorial.
It is very unfortunate

3 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by SleekMallam: 7:02am On Mar 25, 2016
Phcn =Zero

Fuel =Zero

Economy =Zero

What exactly is change What tangible or intangible goods has Mr Buhari delivered Only Blood! Blood!! And more Blood!!!

51 Likes 2 Shares

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by ckmayoca: 7:06am On Mar 25, 2016
You are stupid. You DPR team no get fuel for moto to take do them job abi u guys are playing games.
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by greatgod2012(f): 7:08am On Mar 25, 2016
Nigerians are the main enemies of fellow Nigerians.

The fuel marketers are Nigerians.

Our politicians who take pleasure in personalising the money meant to make Nigeria better are all Nigerians.

11 Likes 1 Share

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 7:20am On Mar 25, 2016
It is high time our leaders need to think before speaking and not the other way round. I dont blame them because they are not feeling what the masses are going through

3 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by ijustdey: 7:22am On Mar 25, 2016
until those black marketers hand are chipped down.... hoarding of petroleum product will still be going on..


I can't imagine a petrol station within my street who has fuel but only sells at night to black marketers just because of profit he would gain without seeing it's effects of the community.


we Nigerians are our enemies.

4 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by otokx(m): 7:22am On Mar 25, 2016
greatgod2012:
Nigerians are the main enemies of fellow Nigerians.
The fuel marketers are Nigerians.
Our politicians who take pleasure in personalising the money meant to make Nigeria better are all Nigerians.

Right in my colleagues front, an NNPC tanker loaded with product at East West Road near Jepthah used masking tape to cover the NNPC name and sold it to Independent Marketers were they will sell at 140 naira per litre.

1 Like

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by greatgod2012(f): 7:29am On Mar 25, 2016
otokx:


Right in my colleagues front, an NNPC tanker loaded with product at East West Road near Jepthah used masking tape to cover the NNPC name and sold it to Independent Marketers were they will sell at 140 naira per litre.



Can you imagine o
When are we going to stop inflicting hardship on ourselves in this country?

2 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by lashout1: 7:33am On Mar 25, 2016
These guys self. how can I panic buy for a month and now?

1 Like

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by ExAngel007(f): 7:38am On Mar 25, 2016
greatgod2012:
Nigerians are the main enemies of fellow Nigerians.
The fuel marketers are Nigerians.
Our politicians who take pleasure in personalising the money meant to make Nigeria better are all Nigerians.
TRUE

We never like to see progress among ourselves

always putting blame on the federal government

5 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by greatgod2012(f): 7:44am On Mar 25, 2016
ExAngel007:
TRUE
We never like to see progress among ourselves
always putting blame on the federal government


That's we Nigerians for us
Highly hypocritical!

3 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 7:47am On Mar 25, 2016
Nigerians are the problem of Nigeria
#Fact

There were three men living together in London. AnAfro-American, a West Indian and a Nigerian. They were all starving because they didn't have money to buy food.However upon coming close to a posh London restaurant in this classy neighbourhood, they decided to come up with a plan.

The Afro-American went in first. After being seated, he ordered a three course meal with white wine. When he had finished the meal, the waiter came by with the bill. "LISTEN MY MAN, I ALREADY PAID YOU!" - the Afro-American shouted! The waiter was very confused because he could not remember being paid. But because he did not want to cause any trouble, he let the brother leave.

Five minutes later, the West Indian walked into thesame restaurant and ordered a five course meal with red wine. When he was finished eating, the waiter came by to collect the money for the food."HEY, HEY, LOOK AT ME CROSSES. BUT AH PAID YOU ALREADY!" - the West Indian shouted. This time the manager came and had to calm down the West Indian, because he did not want anything to upset the other customers. He let the guy go.

Ten minutes later, the Nigerian walked in. And you know how we are. He sat down. Lit up a cigarette, and ordered the most expensive meal on the menu, plus two bottles of Beer. After he had finished, the waiter came to collect the money for the meal,But before the Nigerian could say anything, the waiter spoke to him."Sir, I have been having all sorts of problems all day and I can't understand it.Two other people like you came in earlier and ate, and they say that they paid me but I don't remember getting any money from them so, " Before he could finish, the Nigerian interrupted, rather emphatically, "OGA I SORRY FOR YOU OOOO. BUT DAT NA YOUR PROBLEM. I JUST WANT YOU TO GIVE ME MY CHANGE!!"

3 Likes 1 Share

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by ExAngel007(f): 7:49am On Mar 25, 2016
greatgod2012:



That's we Nigerians for us
Highly hypocritical!
some even blame PMB for their wife for giving birth to female children

5 Likes 1 Share

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 8:26am On Mar 25, 2016
The unstableness in the sector was simply kachukwu's making.

Earlier in the year, he removed subsidy and called it price modulations, Nigerians no talk because of the confusing nature of the statement.

In February product became scarce, PPMC had things under control but he squandered the gains and said that "he was unbundling the NNPC into 30 different companies" the fuel crisis entered gear 2. He recanted his position that he only meant that he is reorganizing the NNPC into 21 companies, we sit don dey look.

He ended up reorganizing the NNPC into seven sub divisions.

The amazing thing about Kachikwu is that he likes listening to himself "wash man", even when it is unnessary to speak. He told us three weeks ago that "fuel queues will disappear in two days"; instead the queues got longer and when he was queried a few days ago at the state house, Kachikwu says the queues are here to stay for another two months.... Talk talk .

They say when a man thinks he knows it all, he becomes the fool at the village square.

Nigerians welcome to the "talk or die ride" with Kachikwu.

5 Likes 2 Shares

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 10:53am On Mar 25, 2016
I don't need it

I blame Buhari.

It is finished.

1 Like 1 Share

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by macaranta(m): 10:54am On Mar 25, 2016
Yea.not far from the truth
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Sijo01(f): 10:55am On Mar 25, 2016
Just like booohari, non of the people working under him think before they speak.

3 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by wuruolajumoke: 10:55am On Mar 25, 2016
Kachichukwu doubles as a liar

1 Like

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by chimah3(m): 10:55am On Mar 25, 2016
Stewpeed statement from a stewpeed man!!!

Panic buying for how many months now!

angry

2 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by oloriooko(m): 10:55am On Mar 25, 2016
Kachukwu is an educated fuul
Mad man in suit SHM

6 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by djlawex02(m): 10:56am On Mar 25, 2016
This is what happens When u voted for one chance.

6 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by BobUg28(m): 10:56am On Mar 25, 2016
B
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by HirstMOG(m): 10:57am On Mar 25, 2016
one of PMB's technocrats!!!!!

5 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by repogirl(f): 10:57am On Mar 25, 2016
All I have to say is

1 Like

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by Nobody: 10:58am On Mar 25, 2016
Back here in Benue, we never see buy 4 today you de talk about to store am.

1 Like

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by pat077: 10:59am On Mar 25, 2016
Everything under this administration is inconclusive, even fuel scarcity.
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by misscall247: 11:03am On Mar 25, 2016
ministers of doom....confused ppl
Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by narrowpathy(m): 11:05am On Mar 25, 2016
Abeg I no wan know. Buhari use ur body language to come to the rescue. I WANT FUEL!!!

2 Likes

Re: Petrol Scarcity: Kachikwu’s Comment Fuels Hoarding, Panic Buying by masqot(m): 11:06am On Mar 25, 2016
Most of these public office holders need PR manager cause there's always need for diplomacy and brevity in uttering speech. I think some of them have not realized how sensitive their positions are. The masses is hoping on them and look at the flimsy statement and the aftermath in just one day. They need to learn quick.
What this economy needs at present is confidence.

2 Likes 1 Share

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