The Nigerian National Petroleum Corporation (NNPC) says it has imported 9.8 million metric tons of Premium Motor Spirit (PMS) worth $5.8 billion to combat the fuel crisis that resurfaced since late last year.

This was disclosed by the Group Managing Director of the corporation, Dr. Maikanti Baru, during a public hearing by the Senate Committee on Public Accounts at the National Assembly Complex in Abuja on Tuesday.
In a presentation by the GMD who was represented by the Chief Operating Officer, Finance and Accounts, Mr. Abdulrazaq Isiaka, NNPC stated that it carried out the massive importation in fulfilment of its statutory role of supplier of last resort to ensure that Nigerians do not suffer as a result of product unavailability.

According to the GMD, the corporation’s provision of 9.8 million metric tons of petrol so far has helped a great deal in ameliorating the suffering of Nigerians.

According to a statement by spokesman of the corporation Ndu Ughamadu, the GMD said the corporation’s intervention became necessary following the inability of the major and independent marketers to import the product because of the high landing cost which made cost recovery and profitability difficult owing to the regulated price regime.

While assuring the public of adequate product supply, the GMD, however, pointed out that cross-border smuggling due to price disparity between Nigeria and neighbouring countries where a litre of petrol sells above N350 per litre as well as logistic issues in trucking products to different locations across the country remained serious challenges in the quest for fuel queue-free situation in the country.

https://www.dailytrust.com.ng/fuel-crisis-we-have-imported-5-8bn-worth-of-petrol-so-far-nnpc.html

I don't understand this ..Are we not paying for the fuel?

Shameless lots. Is this something to be proud about?

This administration promised to fix the refineries once elected, but now they brag about importing $5.8 billion worth of fuel

Where una keep dem? This is where Buhari will have improved his scores by looking into what goes on in his administration but had been hoodwink to believe that whatever his men does had been committed by Jonathan's boys.

All of una go join the train #Back2Daura2019

That amount can build a refinery

FarahAideed:
I don't understand this ..Are we not paying for the fuel?

Abeg help me ask dem ooo.. Anyone could assume dey are dishing it out for free.. Since dey claimed to have removed subsidy and all is well, let dem explain to Nigerians why its d NNPC who still imports d product... How com marketers aren't importing.. I can't help but wonder at d level of foolishness of those trying to defend d govt and make excuses for dem

OK...

Can we download it?