Against speculation of a possible fuel price increase, Group Managing Director of Nigerian National Petroleum Corporation, (NNPC) Maikanti Baru, on Friday confirmed that President Muhammadu Buhari directed against the removal of subsidy from petroleum products sold to Nigerians.
Recall, however, that Federal Government did not make provision for fuel subsidy in the 2018 budget, but Baru, speaking with State House Correspondents at the Presidential Villa, on Friday, said President Muhammadu Buhari directed the NNPC to maintain products supply at the current price rate.
Baru, who put the current cost as should be sold in the pump without under-recovery, at N171.40 per litre added that the President directed that government would maintain the N145/litre, while depot price remains at N133.28 per litre.
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“Do you want me to remove subsidy? What I am saying is that the landing cost as should be sold in the pump without under-recovery should be N171.40, however, Mr President has directed that we should maintain all the parameters to ensure that it is sold at N145 per liter. And that is why we are selling at the depot at N133.28”
The government also announced that it has tamed what it described as “the monster of fuel scarcity” that reared its head as a result of the rumoured price increase about three weeks ago.
The NNPC on Thursday, had loaded 1,750 trucks for onward distribution of products to different parts of the country, with a promise to continue massive load out until the former position is restored.
Baru also announced that eight vessels are currently discharging petroleum products at various ports around the country.
“Nigerians should enjoy the new year and Mr President’s directive and guidance which has been very helping has been executed and normalcy has returned.”
Baru said the rumour had” instigated marketers to be very greedy” adding that they “decide that their fellow citizens should not enjoy the Christmas holiday and new year with ease and decided to profiteer, starting by hoarding and diversion of products.
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“At the beginning I did address the press, telling the world that we have sufficient products that will last us 30 days through the new year, into January but because the marketers wanted to inflict harm and pain on fellow citizens, they decided to hoard products, divert them and in some cases, even smuggle products out of the country.
“As of this morning, I have gone round the Abuja metropolis and I have seen that the queues have reduced significantly to an almost normal level and few motorists that I heard speaking on morning programmed concerning what I have seen, said they have not spent up to 30 minutes to fuel their cars.”
Baru, who declared that the NNPC has enough fuel to last the nation for 30 days, blamed the crisis that followed on some “greedy marketers” who created “the monster”.
He however ever assured that the ” monster” has been tamed in Lagos, adding that ” the situation has been brought to normalcy, as far as two days ago and we are also replicating the same thing in all other cities
“I promise that we have sufficient products that will last us for the next 30 days and we keep bringing in 50% over and above our normal consumption into the country.
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“Those marketers that have hidden products in odd locations, you better bring them out and sell to the public at N145 per litre maximum. If NNPC sold it to you at N133.28, you have sufficient margin within that ambit to be able to supply and sell to the public at maximum N145 per litre.
“The NNPC is selling at N143 per liter so you should be able to sell at N145 per litre. If you go above that, the regulator, DPR and PPPRA with the support of law enforcement agencies, particularly the civil defence, will make sure that the products are confiscated and given free to the public. This is the directive that we are working on by Mr. President and it is being executed to the letter. Bring them out and sell these products, we don’t have any shortage and we are making massive loadings.”
He announced that the law enforcement agencies particularly with the Nigeria Security and Civil Defense Corps ( NSCDC) has been mandated to take action against marketers hoarding Petroleum products.
” They have helped us to mop up those people selling in Jerry cans and have also helped us to mop up some of the cars that have extra tanks, at least within Abuja and environs and around the country.
“The legal action is to apprehend the culprits first and then take them to the courts within the time limit that is speculated.”
Tony Ailemen, Abuja
