By Uche Amunike
Vice President Kashim Shettima has summoned Minister of State, Petroleum, Heineken Lokpobiri, Group Chief Executive Officer of the Nigerian National Petroleum Company limited (NNPCL), Mele Kyari, as well as the National Security Adviser (NSA), Nuhu Ribadu, Thursday, to discuss the fuel price hike and scarcity currently plaguing the country.
Speaking, while, addressing State House correspondents after the meeting, the Minister of State Petroleum, Heineken Lokpobiri, explained that they were summoned by the VP, on the instructions of President Bola Tinubu.
He stated that the meeting was basically to update the presidency with reports on the situation of the fuel price hike and scarcity across the country, noting that they particularly had a duty to inform Nigerians that the president is empathetic about the current hardship being faced by them as a result of the fuel hike and scarcity.
According to Lokpobiri’s exact words: ‘The Vice President summoned us and we’ve been with him to brief him about what is going on across the country.’
‘And what is important is for us to convey to Nigerians that the President is empathetic about what is going on in the country.’
‘He is concerned about the hardship of Nigerians, and that was why he directed the Vice President to call this meeting, for us to reflect on what is going on in the country.’
‘What is important is that products are available in the country, and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country.’
‘The price could be high in some other areas, much higher in some other locations, and in some locations, much more than you know other areas.’
He stated that by the time the products are available across the country, the prices will become stable, adding that the prices are not fixed by the government.
He further averred: ‘What is important is that the government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find its level. And this is important for Nigeria to know.’
‘The summary is that the President is empathetic about what’s going on. That’s why he directed this meeting. ‘
‘There is enough product in the country to be able to meet the demands of Nigerians. There should be no panic buying. And we also believe that Nigerians need to know that the government is not fixing prices. That is what I want to convey to Nigerians.’
Also, present at the meeting was the Executive Director of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Kalu Okuoha, who assured that all hands were on deck to see that, not only is the fuel price regulated, but also, its scarcity checked.
Hear him: ‘All regulatory efforts are now geared towards stabilizing supply, with a resultant impact that it will be positive also on the stability of price.’
‘To that objective, the regulator is ensuring that there are increased operating hours from all loading depots. Vessels are being cleared promptly and extended hours where safety can permit for truck-outs as well.’
‘More important also is the reinforcement of the support being given to local refiners because with increased production from them, we, indeed, like the minister, has said, there will be a higher supply, which will stabilize the price. That’s the effort that the regulator is making.’
