The Nigerian National Petroleum Corporation Limited has stated the fuel queues in Abuja and Lagos will vanish in 3 days, stating that were issues around supply disruptions which have now been resolved.

This was disclosed by Mele Kyari, Group Chief Executive Officer, NNPC Ltd in an interview with Arise News on Sunday.

The oil boss also disclosed that NNPC is fully aware that there are issues with pricing and expects prices to normalize for the Nigerian consumer.

What the NNPC boss is saying
Kyari said, “First of all, there are issues around supply disruptions, this we are overcoming it, we have resolved them, and in the next 3 to 4 days, people will see relief and it ( fuel queues) will vanish.

“As we all know, there are no fuel queues in most parts of the country except Lagos and Abuja and we understand the real logistics issues and I am confident within the next 2-3 days this will vanish.

On PMS pricing, Kyari added, “there is no question around it (PMS price); the President has authorized his discretion, and the right decision to increase the cost of transporting fuel by N10, that means transporters will be able to take product from any depots to the furthest fuel station without any delay.”

“We also acknowledge that there are some facing logistic challenges, particularly in the marine sector we are resolving those, and convinced that prices will normalize very soon”, he added.

What you should know
It was reported last week that Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have attributed the lingering fuel scarcity in Lagos and its environs to the inability of the Pipelines and Product Marketing Company (PPMC) to supply products to the Ejigbo depot.

IPMAN pointed out that they are hoping that the marketers can buy fuel from PPMC, which is a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited so they can also sell at N165 per litre at retail outlets.

They said, “We are still waiting for the PPMC to supply products to our depot so that we can buy at the controlled price and can also sell at N165 per litre at our retail outlets.’’

Source: https://uphorial.com/post/fuel-scarcity-to-end-in-3-days-nnpc-80973

I choose not to believe till it ends...

These ones dey lie pass APC

LoneWolf212:
These ones dey lie pass APC

Is there a fuel scarcity in Ghana? Because Ghana is not an OPEC nation like Nigeria.I don't think citizens from other OPEC nation have experience fuel scarcity and poverty like Nigerians.
NNPC is a cartel with fraudsters.

Revolution2022:
Is there a fuel scarcity in Ghana? Because Ghana is not an OPEC nation like Nigeria.I don't think citizens from other OPEC nation have experience fuel scarcity and poverty like Nigerians.
NNPC is a cartel with fraudsters.

Ghana has no fuel scarcity because they do not have a fuel subsidy in place.

As a result, the market is allowed to sell fuel and diesel at a profit ( a liter of fuel in Ghana costs N608 per liter)..and government only takes taxes from the liter sold.

Other OPEC nations sell fuel at an expensive price...except Algeria, Kuwait and Venezuela...but Venezuela subsidises fuel...and as a result has massive loss of refining capacity..and imports most of its needs (Also has scarcity, and loses millions to smuggling). Algeria and Kuwait sell fuel 'cheaply' but have smaller populaitons than Nigeria, and produce far more crude than we do=more available income to subsidize fuel.

Libya sells fuel at a low price, but then again, Libya produces five to six times more crude than Nigeria for a population of less than 10 million people...so spare money to subsidise exists.

Iran too does the same, but they have a debt that makes ours look like small potatoes. (and the Iranian government too wants to get rid of their subsidy, but fear public anger).

Subsidywise20:


Ghana has no fuel scarcity because they do not have a fuel subsidy in place.

As a result, the market is allowed to sell fuel and diesel at a profit ( a liter of fuel in Ghana costs N608 per liter)..and government only takes taxes from the liter sold.

Other OPEC nations sell fuel at an expensive price...except Algeria, Kuwait and Venezuela...but Venezuela subsidises fuel...and as a result has massive loss of refining capacity..and imports most of its needs (Also has scarcity, and loses millions to smuggling). Algeria and Kuwait sell fuel 'cheaply' but have smaller populaitons than Nigeria, and produce far more crude than we do=more available income to subsidize fuel.

Libya sells fuel at a low price, but then again, Libya produces five to six times more crude than Nigeria for a population of less than 10 million people...so spare money to subsidise exists.

Iran too does the same, but they have a debt that makes ours look like small potatoes. (and the Iranian government too wants to get rid of their subsidy, but fear public anger).

These countries where there are no subsidy payment have local refineries while Nigeria doesn't refine but import the product.What is their minimum wage compare to Nigeria.
The corruption in NNPC is the reason Nigeria is importing fuel and the scarcity that follows it.

to end in three days and continue in seven days

Nonsense promise

Revolution2022:
These countries where there are no subsidy payment have local refineries while Nigeria doesn't refine but import the product

Ghana does have two refineries, and they sell petrol at N608 per liter. Their minimum wage is around N24000 monthly, compared to our N30000 monthly. They can keep the refineries running because they do not subsidse fuel, but sell it at a profit.



.

What is their minimum wage compare to Nigeria.

See Ghana above.

Kwuwait, Algeria, Libya produce far more crude oil than Nigeria, for a population not up to a third of what we have here, even if we added up all countries.Thus they earn more money to sustain their refineries, and subsidise fuel..and still have left over. Nigeria, even at 2.4 million barrels does not earn enough money (before corruption and bad leadership comes in) to sustain itself, and pay subsides. That's why our refineries are in a mess.

The corruption in NNPC is the reason Nigeria is importing fuel and the scarcity that follows it.

No it is the subsidy.

At the moment, it costs above N400 to refine one liter of fuel, and we pay as much as N165 for that same one liter....and the money paid to cover the resulting loss is the subsidy.

Subsidy costs have been rising because

1.Cost of crude is rising (Bonny light is over 100 dollars since Feburary)....and thus the cost of production...and thus the difference between the cost of production and the N165 price...which is suppsoed to be covered by subsidy.

Right now, government is paying N600 per liter of fuel as subsidy. Last year it was less than N200 per liter. Difference accounted for by rising crude oil prices

2.Smuggling of fuel...because fuel costs above N300 in other African countries (one third of our fuel consumption is in border regions...)

Also, in addition, most fuel is transported via diesel trucks. DIESEL is not subsidised...and it costs N798 at best. Subsidy costs cover transport costs partially, and the amount being paid on subsidy transport costs is not enough due to rising diesel prices.

3.Finally, subsidy prevents NNPC from making a profit, since subsidy obliges it to sell fuel below its production cost....even if importaiton was not in play, leading it to sustain losses, which prevent it from building new refineries (and promote sabotage and corruption, since NNPC is not relying on profits made, but government money sent.)