Fuel Scarcity: FG Meets With Major Oil Marketers

Fuel Scarcity: FG Meets With Major Oil Marketers

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, chaired the meeting at his office yesterday.

The meeting, which was presided over by the Chief of Staff to the President, Alhaji Abba Kyari, wss held at the old Banquet hall of the Presidential Villa, Abuja.

However, the Senate Committee on Petroleum Resources (Downstream) resolved that only the Executive Secretary of IPMAN, Aminu Abdulkadir‎, should speak for the association.

On sanctions against alleged erring marketers, Mr. Kachikwu said even Nigerians who suffered during the crisis would want to be sure a lasting solution was found to the crisis, by finding evidence upon which to punish people.

The Depot and Petroleum Marketers Association of Nigeria yesterday insisted that its members can no longer import and sell petrol at N145 per litre.

"It would take 18 months to address problems of scarcity, price stability and other issues relating to the supply of petroleum products. If you have one, I will like to have it", Kachikwu noted.

DAPMAN Chairman Dapo Abiodun told State House reporters late that there was no subsidy on petrol at the moment.

"Three, to look at the direction of blanket subsidy for all the importers in bridging the gap which would be like going back to a problem that had earlier been solved", he said.

According to him, membership of the committee also include Independent Petroleum Marketers Association of Nigeria (IPMAN), labour unions, Depot and Petroleum Marketers Association of Nigeria (DAPMAN) and NOMAN. So, government has to find a way and ensure that marketers themselves are importing alongside NNPC and still sell at N145.

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He said there was no evidence to punish any marketer for hoarding petrol, assuring all stakeholders that part of the demands of the meeting was to name marketers who erred.

Oil marketers have agreed on Wednesday with the Federal Government to allow the pump price of petrol to remain at N145 per litre, a move that reverses their previous stance on the pricing of the commodity.

He said that government had mapped out strategies to ensure availability of petrol which will be sold the at the government-regulated price. We explained that the problem that you saw is not willful on the part of anyone either NNPC or marketers.

He added, "The situation from our point of view is that from January to December, the price of crude remained relatively stable; but following the hurricane in September to October, crude prices went up and marketers lost the ability to import and sell at N145 per litre".

"I have said nobody sells crude in its form in the world and we have to have the technical capacity to do this".

The additional volumes is premised on the prevailing NNPC one-Cargo-per day fuel import arrangement created to guarantee the daily discharge of over 40 million litres of petrol.

The minister disclosed further that as a result of the N26 difference per litre between the current landing cost of the product ( N171) and pump price of N145, NNPC which had been singularly importing the product at the volume of 25 million litres per day since October past year, has been incurring a daily loss of about N800-N900 million, cumulatively reaching N85.5billion today, in just three months.

Also in his presentation, the Group Managing Director of the NNPC, Maikanti Baru, enumerated reasons for the scarcity of fuel.

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