Corporation says it is making effort to make fuel available

chika ebuzor

December 29, 2015 3:16 AM

An official statement released by the oil industry regulator, said that normalcy has returned in some states of the federation like Abuja, Kano and Lagos.

The Nigerian National Petroleum Corporation (NNPC) says they are adopting strategies that will end the harrowing fuel scarcity soon.

The corporation also said that the fuel supply intervention put in place by the minister of state for Petroleum Resources, Dr. Ibe Kachikwu, will reduce queues.

Vanguard Newspapers reports that Kachikwu, commenting on the subsidy removal, during a facility tour of the Kaduna Refining & Petrochemical Company (KRPC), said “The president is very emphatic on this; he expects that products should be about N87. He has also given approval for us to be able to look at market trends and make adjustments as need be.

“My commitment and I think that is what the president’s commitment is, is to provide products at all the time so that there is efficiency, and provide it at the least possible price and let it have some relationship with what the trends are.”

Read: 'FG has suspended paying subsidy on petrol,' Kachikwu

Adding that “We are not going to be fluctuating prices day to day, we are going to take like an average and I think that today when you look at prices, we have no subsidy but prices remain low and that is what we need to do. It is the honesty in being able to sell products to Nigerians at affordable prices that make sense.”

The Nigerian National Petroleum Corporation (NNPC) recently disclosed that over N1 trillion was spent on fuel subsidy in 2015.

chika ebuzor