Fuel Wahala: No Need for Panic, Tinubu's Govt Assures Relief Soon
The Federal Government has reassured Nigerians that the current fuel crisis rocking the nation will soon be a thing of the past.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, gave this assurance on Tuesday, September 5, while addressing State House correspondents after a meeting with Vice President Kashim Shettima. He was joined by the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.
Lokpobiri revealed that the meeting was convened on the orders of President Bola Tinubu, who is concerned about the hardship Nigerians are facing due to the high cost of petrol. The minister stressed that the government is not controlling fuel prices and that the cost will stabilize once the product is sufficiently available.
The minister urged Nigerians to avoid panic buying, adding that petrol should be readily available across the country by the weekend.
“What matters most now is the availability of products, and we are confident that between now and the weekend, fuel will be available across Nigeria. Prices may vary from one location to another higher in some places and even higher in others but with steady availability, prices will stabilize naturally. It’s important for Nigerians to understand that this sector is deregulated, and the government is not setting prices. As products flood the market, prices will adjust on their own,” Lokpobiri said.
He assured Nigerians that there is enough petrol in the country to meet their needs and urged citizens to stop stockpiling or hoarding fuel.
Meanwhile, the recent hike in petrol prices has sent transport fares skyrocketing by over 50% in major cities across the country. NNPCL’s latest price adjustment has seen fuel costs jump to between N855 and N897 per litre, depending on the location, up from the previous N568 to N617 per litre.
But fear not, Nigerian the government says relief is on the way.
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