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Friday, 02 June 2023 11:06

Subsidy Removal: Kyari Predicts End Of Fuel Queues

The Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has predicted when fuel queues arising from the crisis caused by the removal of subsidy would end.

According to him, the fuel queues being witnessed across the country would not exceed Saturday, Naija News learnt.

Kyari, while fielding questions on Channels TV during an interview yesterday said “I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. We have supplies. The key trouble with the PMS system is supply, but I have supplies.

“There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground.”

Speaking further about the availability of the product, the NNPCL boss revealed that the company had over 800 million litres of petrol on land, stored in filling stations, tank farms and depots, while its total stock for both marine and land stood at about 1.8 billion litres.

He submitted that “Today I have 1.8 billion litres of PMS and that means that if we don’t do anything, I’ll have sufficient fuel for the next 30 days in my hands.

“But, of course, the way we supply is not this way, so we maintain this level of supply consistently. That means you will see the arrival of products every day so that you continue to maintain that level of safety.”

Kyari also validated the petrol pricing document for various states that circulated online on Wednesday saying “You have seen a document in the space out there. Every company does this. It is a marketing document. It was not a price announcing document, every company keeps this record and adjusts it appropriately on the basis of changing conditions in the market.

“So what you saw was just an internal company document that found its way into the internet. It is an NNPC document but it was not intended to be an announcement and is not an announcement, because it can change the next day.”

It would be recalled that President Bola Tinubu had on Monday announced the end of the regime of fuel subsidy in the country. A development that has stirred a lot of controversies since his pronouncement.

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