The Nigerian Minister of State for Petroleum, Heineken Lokpobiri, assures that petrol scarcity will end soon, with efforts to stabilise prices underway.
[dropcap]T[/dropcap]he Nigerian Minister of State for Petroleum, Heineken Lokpobiri, assured citizens that petrol scarcity would be resolved by the weekend. He stated that availability across the country would help stabilise prices.
Lokpobiri explained that while prices may vary across different regions, the government’s focus is on ensuring a steady supply of petrol. “We believe that between now and the weekend, there will be availability of products nationwide,” he said.
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The minister clarified that the petroleum sector is deregulated, meaning the government does not fix prices. He added, “The price will find its level once products are available across the country.”
Lokpobiri was summoned by Vice President Kashim Shettima alongside NNPC Group Managing Director Mele Kyari and National Security Adviser Nuhu Ribadu to discuss the recent price hike.
Kalu Okuoha, Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), highlighted ongoing regulatory efforts aimed at stabilising petrol supply. He stated, “Our objective is to ensure increased operating hours from all loading depots and prompt vessel clearances.”
Okuoha further explained that enhancing local refining support would lead to increased production and higher supply, ultimately stabilizing prices across the nation.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
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