The House of Representatives Committees on Petroleum Resources (Downstream and Midstream) have taken decisive action to address the persistent fuel scarcity and arbitrary price increments by fuel marketers.
In a joint statement released on Wednesday, the Chairmen of the two committees, Ikenga Ugochinyere and Henry Okojie, urged security agencies to crack down on petrol marketers hoarding the commodity and inflating its price.
The lawmakers emphasized the need to end the fuel queues that have plagued the country, particularly in recent times. They disclosed that they have engaged various stakeholders in the petroleum distribution value chain to find lasting solutions to the fuel scarcity crisis.
Among the stakeholders involved in the discussions are the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO).
The statement read in part, “We have engaged extensively with them, with a view to ascertaining the cause of the resurgence of the fuel queues in petrol stations across the country.
“From our investigations, we have discovered that there is availability of petrol products. We have on good authority that we have in our storage facilities, at least, about 1.5 billion litres of petrol that can last for 30 days.
“It is however saddening to note that it is as a result of logistics challenge that the queues have resurfaced. These logistic issues range from difficulty experienced in transporting products from the mother vessels to onshore. Movement of products with marine shuttle vessels, disruption in the Escravos channels, etc.”
The committees noted that disruptions in logistic supply had been addressed, assuring that the scarcity of petrol would be a thing of the past in the next few days.
According to them, some stakeholders are sabotaging the economy and should be clamped down by security agencies.
“We hereby call on security forces to support the NNPCL, NMDPRA, PETROAN, NARTO and other key stakeholders in the distribution value chain, so as to ensure that such acts of economic sabotage that has to do with hoarding, arbitrary increment in price, products diversion and smuggling are detected and dealt with.
“Our people have been through a lot in the last few days and we must not plunge them into further pains. We appeal to all traders and those rendering services, not to unduly take advantage of this temporary challenge, which will be cleared in the next few days.”
This concerted effort by the House Committees on Petroleum Resources signifies a commitment to ensuring the availability of petrol at reasonable prices for Nigerians across the country. It also underscores the importance of collaboration between government agencies and industry stakeholders in addressing critical issues affecting the nation’s economy and citizens’ welfare.