Responding to the hardship Nigerians have had to endure in recent weeks as a result of fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) yesterday assured it would bring the chaotic situation under control in a matter of days.
The NNPC’s promise comes after the Minister of State for Petroleum Resources, Ibe Kachikwu, told Nigerians the crisis could linger till May.
In a statement signed by its spokesman, Garba Deen Mohammed, outlined new ways to arrest the situation, stressing it was on top of the petroleum products supply and distribution situation, while remaining committed to eliminating the endemic issue once and for all within the next few days.
The statement read in part:
“Supply constraints due to foreign exchange challenges are being resolved through collaboration with the Central Bank of Nigeria on innovative ways of closing the gaps in accessing foreign exchange. Similarly, as a result of credible leadership provided by the Honorable Minster of State, Petroleum Resources/Group Managing Director, NNPC, the major international upstream oil companies have indicated their willingness to support major oil marketing companies with some of the required foreign exchange.”
The statement added that as a result of the challenges that major oil marketers face in contributing their supply quota due to constraint in accessing foreign exchange and outstanding subsidy obligations, NNPC is burdened with the obligation to guarantee almost 100 per cent in the national supply, since the domestic crude oil supply (445,000 bbls/d) can only guarantee about 50 per cent of the 45 million litres national requirement for petrol; adding it has secured presidential approval to take additional crude oil volume to guarantee national supply of petrol.
Furthermore, to curb storage and logistics challenges, NNPC said it is working on a joint partnership with technically and financially capable investors to ensure that petroleum products transportation and storage facilities are efficiently operated on an open-access-common-carrier user-tariff basis. It hinted that some of these Depots will be nominated as strategic reserves while we take possession of a strategic reserve vessel in the next 3 months. Tangible results will be delivered within the next 3 – 6 months.
NNPC had better. This hardship is too much Biko. This is not the change we voted for at all.
I pray ooooo