Nigeria has confirmed the availability of about 1.3 billion litres of petrol which is said to resolve the lingering fuel scarcity.
This was according to a report disclosed to The Punch on Saturday by the General Coordinator, South-West, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso.
Kadoso said this during a visit by the government’s task force team to Ijegun tank farms in Lagos. The patrol was on the enforcement of the government-approved price.
He said that around 1.3 billion litres of petrol was imported into the country.
The inland depots received 580 million litres, while the marine/offshore depots has about 690 million litres.
In his words, “We have sufficient fuel in the country. I can assure you that everything will be fine in a few days because we will monitor distribution back-to-back and ramp up enforcement.
“As of today, the inland depots have 580 million litres, the marine or offshore have 690 million litres as well. In total, that translates to 1.3 billion litres, which is about 32 days sufficiency.”
The Coordinator also emphasised on the government-approved price of N172 per litre.
According to him, “We have always monitored the system from all the value chain right from the vessel coming in and right down to the retail pump.
“Now, we are seeing light at the end of the tunnel that things are getting better, and the federal government will ensure that there’s compliance to the regulated price.”
The Punch reported that the National Controller Operations, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, gave the drivers an assurance that the organisation is willing to obey the new pricing policy.
Meanwhile, the condition is that the depot owners and NNPC will keep to their ends of the agreement.
According to the IPMAN leader, “All of my members are going to load at N172 per litre. But what worries us is that, how can the government sustain supplies to the depots, and keep price regulated as promised. But I want to believe that there’s commitment on the part of the government to keep supplies coming in.”
He, however gave warnings to members of IPMAN to adhere with the newly government-approved price of petrol per litre as defaulters will be duly penalized.
