By Ella Michaels
President Bola Tinubu has directed Vice President Kashim Shettima to convene an emergency meeting with key stakeholders in the oil and gas industry to address the ongoing fuel scarcity and pricing challenges. The meeting, held at the Presidential Villa on Thursday, aimed to find immediate solutions to the crisis.
In attendance were Minister of State for Petroleum Resources, Mr. Heineken Lokpobiri, Group Managing Director of NNPCL, Mele Kyari, and Executive Director, Nigerian Mainstream, Downstream and Petroleum Regulatory Authority, Ugbogu Ukoha.
Lokpobiri revealed that President Tinubu is deeply concerned about the developments in the energy sector and empathizes with Nigerians' difficulties. The President has emphasized the need for swift action to ensure stability in fuel supply and pricing.
The Vice President, in line with the President's directive, is leading efforts to ensure petroleum products are accessible nationwide. The intervention aims to address uneven distribution, with some areas facing shortages while others experience higher prices.
Lokpobiri assured Nigerians that measures are being implemented to increase fuel availability nationwide by the end of the week. While prices may vary in different regions, the government's goal is to ensure fuel becomes more accessible, stabilizing prices.
The Minister clarified that the federal government does not control fuel prices, as the sector remains deregulated. However, with increased product availability, market forces are expected to bring prices to a more stable level.
"The administration remains committed to addressing the challenges and ensuring the supply chain meets the demands of all Nigerians in the coming days," Lokpobiri stated.
