FG Remains Mum On N200 Billion Subsidy Claims As Deal Is Made...

FG Remains Mum On N200 Billion Subsidy Claims As Deal Is Made With Oil Markerters

NNPC A petrol station during fuel scarcity in Abuja tanker
A petrol station during fuel scarcity in Abuja | Leadership

The Federal Government of and oil marketers have reached an agreement to bring an end to the fuel scarcity in Nigeria on Friday, June 5, 2015.

According to reports, the FG and the oil marketers resolved that before Saturday, June 14, 2015 the fuel scarcity would reduce drastically.

However, they refused to disclose their discussions on the controversial N200 billion subsidy claims being demanded by fuel marketers from the Federal Government on account of currency devaluations.

All the key stakeholders in the petrol market were at the meeting. The key unions were the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Pipelines and Product Marketing Company, and the Nigerian National Petroleum Corporation were all in attendance.

Other stakeholders in attendance included the heads of Department of Petroleum Resources, Petroleum Products Pricing Regulatory Agency, Petroleum  Fund and the Federal Ministry of Petroleum Resources.

Taiye Haruna, Permanent Secretary of the Petroleum Ministry, while reading out the resolutions made at the meeting which lasted for several hours at the headquarters of the petroleum ministry, stated that it has been agreed by the PPMC and the marketers to increase the level of product supply across the country.

“The PPMC in conjunction with marketers, both major and independent, have been directed to increase the level of supply of PMS to all retail outlets nationwide with immediate effect. It was, however, identified that one of the constraints to the distribution of products is the logjam at Apapa in Lagos State.

“Currently we have over 2,000 trucks lined up on the roads in Apapa.

“So we have agreed to work with the Lagos State government, Petroleum Tanker Drivers, Nigerian Association of Road Transport Owners and other stakeholders to clear the logjam.

“Some trucks have been there for the past 10 days waiting to load products but couldn’t get access to the depot. So we have to clear there in order to start moving products out of the depots.

“We have enough stock that can last about 23 days.

“Also we agree to set up a committee of stakeholders to monitor the loading and delivery of products nationwide.

“We have also agreed that efforts be made to clear these long queues before the end of June 13, 2015, that is next week,” Haruna stated.

He also disclosed that the PEF was instructed to track all trucks from Apapa using its Aquila platform in order to avoid diversion of products, adding that DPR would ensure that products delivered must be sold at the approved rate of N87 per litre.


Leave a Comment

To leave a comment anonymously, simple write your thoughts in the comments box below and click the ‘post comment’ button.