Wednesday, 21 April 2021 05:20

Petrol queues’ll disappear soon –NNPC

The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mela Kyari, has assured motorists that fuel queues, that resurfaced in petrol stations in the Federal Capital Territory, Abuja, would disappear in no time. 

He gave the assurance while fielding questions from State House Correspondents after a meeting with President Muhammadu Buhari to give updates on the industry and goings-on in the country around the oil and gas business. 

Asked why the fuel queues were back in the nation’s capital, Kyari said: “These queues will go away. It’s because there was an industrial action by petroleum tanker drivers against their employers, the National Association of Road Transport Owners around their compensation package and those issues were not resolved up till yesterday, until we intervened to ensure that there’s an amicable settlement between the parties so that they will have peace and then normal loading operations will commence from the depots.

“As I speak to you at this moment, loading has commenced in all depots across the country, dispatches of trucks are ongoing in all the depots and they have called off the strike for a period of one week to enable us intervene and find a solution. So there’s really nothing fundamental that is happening now.”

Asked if subsidy has come to stay or be done away with and if there will be increase in fuel price, the NNPC boss said: “Subsidy is a policy matter. I’m sure you’re aware of this. There are engagements going on within government to get the best framework for having a fully deregulated PMS market. As this is going on, we’re engaging all parties and all stakeholders as government and to make sure that at the end of the day, there’s an exit that is beneficial to the ordinary man. 

“That is why we know we will not be able to complete that in the month of May and and, therefore, we declared that there will be no increase in fuel price. I have no update in hand now, this is beyond me, but we’re engaging to make sure that we have the right timeline.

“Today, I think they save about $6 to $7. How does that give the fact that we’re talking about subsidies?” 

Asked about government’s plan to end the petrol subsidy regime in the country, the NNPC GMD said government was still in the process of working out the best way out of the current situation, which he assured would be in the best interest of the ordinary citizen.

 

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