The NNPC has reacted to the reemergence of long fuel queues in Abuja, Lagos and other states in the country.
Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has reacted to the re-emergence of long fuel queues in Abuja, Lagos and other states in the country.observed that queues started resurfacing across filling stations last week, with some persons saying there were plans to increase pump price.
He said the supply of petrol was robust, adding that the federal government was also working hard to ensure supply of FX into the market to stabilise current I&E window around N770. “They have to reroute the trucks around many, many locations for them to be able to reach and that created delays and some supply gaps. But that has been filled and we do not see any of such problems again. And secondly, because of the full deregulation that we have in this sector, marketers are now competing amongst themselves.
“We have over 1.4 billion litres of product in our hands both marine and land. Also, there are no issues around delivery of those products into the land. So, there is no fear, nothing to bother about. But we are also happy that the market forces are now playing out and marketers are competing and of course there are a few issues we’re engaging them to resolve alongside other agencies of government and critical issues around access to foreign exchange.
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