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Monday, May 20, 2024

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Federal Government Promise To End Fuel Shortages In Two Weeks

Nigeria’s federal government says it is striving to end the petrol shortages in Nigeria in 15 days. Long queues at gas stations across Nigeria continued through last weekend and Wednesday’s Worker’s Day holidays.

Ayo Cardoso, the South-West Regional Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), confirmed the offloading of at least 325 million liters at various depots on Monday and Tuesday. He said many more vessels carrying petroleum products into the country have either arrived or are on their way.

Cardoso stated,

As I said earlier, there would be enough fuel across Nigeria soon. We have received over 300 million liters as of Tuesday. More have arrived as we speak, but I can’t give you the figure. Vessels will keep arriving in Nigeria for 15 days, which started counting on Monday, and we will keep distributing the product across the nation.
The masses should not panic; all these will soon vanish. We are not prioritizing anywhere, each state has its allocation to be delivered accordingly.

However, queues at filling stations continue notwithstanding. Shortages have also caused prices to skyrocket, in some instances doubling from the normal pump price of N650 to N900, and N1,400 in the black markets.

Enugu state in SouthEast, appeared to have escaped the harshest price increases. Most gas stations dispensed fuel at about N750/litre as at yesterday.

Meanwhile, some commuters have resorted to walking due to high transport fares. The situation is disrupting businesses, education and other daily activities.

Episodic fuel shortages is an all-too-familiar reality for Nigerians. Analysts argue that until Nigerian refineries, supported by smaller modular refineries, operate at full capacity, the reliance on fuel imports will continue to encounter logistical challenges, leading to shortages and economic disruptions and hardship.

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Iheanacho Achugbu
Iheanacho Achugbuhttps://joliba.com.ng
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