Petrol queues to remain until full deregulation ― FG

•Blames rising diesel cost on Russia/Ukraine war •As FEC okays N12.44bn contracts for projects in Petroleum, Environment ministries
fuel scarcity, Petrol queues to remain

The petrol queues now being experienced in the Federal Capital Territory (FCT) and some other parts of the country will remain until the sector is fully deregulated.

The Minister of State for Petroleum Resources, Timipre Sylva, stated this at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja on Wednesday.

It was also revealed that FEC has approved contracts for awards worth about N2.449 billion for projects in the ministries of Petroleum Resources and Environment.

Briefing correspondents on the outcome of the council meeting, Sylva had been asked to explain the persistence of the fuel queues

He responded that the queues are not caused by shortages in the supply of fuel but by the reluctance of petroleum marketers to sell at the recommended retail price.

According to him, there are queues in Abuja because selling at the recommended N165/litre of fuel is not profitable to the marketers who are taking advantage by diverting products from the city centre to where they can sell above the recommended retail price.

Sylva stated: “If you look at it, there are no queues when you leave Abuja. In most places, only in the Abuja metropolis do you continue to have these queues. So, is it that there is less supply to Abuja than to the rest of the country? It is not so. It is because if you go out of Abuja, they can afford to probably sell at higher prices.

“And I’m sure a lot of you must be buying at higher prices. But within Abuja, because of the watchful eye of the federal government, they cannot sell at those prices. So, it’s not a very attractive market for them. I think these are all things that we might have to be dealing with for a while until we’re able to fully deregulate.”

Giving updates on the rehabilitation of the nation’s refineries, Sylva said the Port-Harcourt refinery will soon become operational as he added that the Dangote Refinery will commence operation by January next year.

“So, these issues will gradually be resolved and we will get to the point where Nigeria will be fully supplied from in-country refined products,” he assured.

On why Kaduna and Warri Refinery workers are still drawing salaries even when they are not working, the minister explained that most of the workers have been redeployed with a few doing skeletal services to prevent pilfering at the facilities.

Commenting on the high cost of gas (diesel), the minister said it is so because the product had been deregulated but added that the Russia-Ukraine War is also to blame

He added: “But of course, you know, the geopolitical tensions in Ukraine and Russia are still on and it’s really affecting the global prices of this commodity.

“So, it is not really something from Nigeria. It is something that is affecting the global community; everywhere in the world is having the same problem. If you go to the UK, they are still talking about inflation; if you go to America, they’re talking about inflation, because there are issues and it’s all coming from the geopolitical tensions in Ukraine and Russia.

“So, I believe that we will also have our fair share of some of these problems. While we try to see how we can ease the problem here, we’re also looking at how we can bring in additional supply from some stranded volumes that we have.

“So, we probably might be able to do something about the gas prices, maybe in the short term, but it is not a subsidized commodity. And that’s why the government cannot really do too much about the price of gas.”

Silva also said that the council approved the award and procurement for the provision of a Conference Hostel Facility in Yenagoa, at the sum of N22 billion to Megastar Technical Construction Company with a completion period of 24 months.

Also speaking at the media briefing, Minister of Environment, Muhammed Abdullahi, said FEC awarded the contract for consultancy services and design of the Centre of Excellence for Environmental Restoration with an Integrated Contaminated Soil Management Centre at the sum of N449,250,040.50 (VAT inclusive).

The establishment of the Centre is, according to the Minister, in fulfilment of the President’s promise to the Ogoni people and was meant to impact them in terms of employment generation and laboratory tests for land remediation efforts on the site contaminated so that it could be made easily cultivatable by the people for their fisheries, farming activities and access to water.

https://tribuneonlineng.com/petrol-queues-to-remain-until-full-deregulation-%e2%80%95-fg/

Excuses, excuses & lies...

PMB's administration has been the most fairly judged since 1999.

They were criticised solely on their own electoral promises... & they failed woefully in every single area.

Even the seemingly few good things they did have turned out to be avenues to loot or brought sorrow to those supposed to enjoy the services/facilities...

God give us Tinibu.

This is the worst of it all

What does it take to get our refineries working again? We have rogues and manipulators in Government.

Deregulation is the answer, but the government and the opposition are both waffling and wobbling over the matter, because politics.

At the end, if you want no queues, remove subsidy, remove government money, make NNPC private, and see if those dead refineries won't come roaring back, and new ones won't come up in minutes....

Yes, high prices, but yes...possible increase in investment and jobs, and government saves money.

Modifed

Before you quote me to shout 'Buhari nigbati nigbati opressor nigbati people will suffer you are wicked'....we are paying as much as 600 naira in subsides, up from below N200 last year, per liter...and that is going to keep on rising with rising crude oil prices. Especially since no one knows how long this war in Europe is going to last....plus subsidy costs have gone up from 2 trillion last year to 5 trillion this year, and rising.

Eventually, they will run out of money to pay for subsidies, and that means that they will take money from other sectors of the budget plus more loans to pay for your fuel to be N165 per liter or less.

So we choose our hardship. Either we keep on pouring money to feed the subsidy monster till it eats us, or we remove it, accept pain for a few years (I estimate that fuel costs could be up to N20000 or more weekly!) while the industry uses the profit to build up refining capacity, and government uses the money saved to pay for some things...like extra rise in salaries and minimum wage.

And for those of you moaning that government would chop the money...well, democracy involves holding the government to account. That means you and I get off our asses and start doing that.

9jii:
God give us Tinibu

God forbid.

9jii:
God give us Tinibu

Ko ni da fun e!
Brainless zombie

Subsidywise20:


God forbid.

Obimination.

ahuja12:
cf

xx

9jii:

Obimination.

Sorry, but I don't support Obi either, or Atiku.

You people should stop supporting the old. See as we tried old man Bubu for 7 years now...and here we are.

Basically, fuel is transported to station via diesel guzzling tankers.

Meanwhile the same fuel is sold at a loss....

So, at the end, if IPMAN is not allowed to increase prices to cover the cost of transporting fuel...it would soon become unprofitable to sell the thing.

So either deregulate...or keep on suffering shortages.

Our Suffering & Smiling continues...

Mad people

Subsidywise20:


God forbid.

God forbid bad things

As if we don't know what is going on. Already, surviving Nigeria is an achievement and we all should make the Guinness World Record for the most oppressed, depressed and suppressed nation gifted with an array of superstar morons as leaders.

There is no joy in this country at all, nothing works and I doubt it will work for a long time, no be curse, trust me I love the country despite the precarious situation we find ourselves, but it will take at least 100 years before we can even attempt to correct it.

The rot is unbelievably deep and even Jesus will look at Nigeria and give a huge sigh, our matter go don tire Bros J.

A whole minister just indirectly told Nigerians... he has no solution to the problem he was employed to tackle.. yet its business as usual..

I just hope Amaechi's quote of poor Nigerians rising up one day to go head on with these brainless animals come really soon. You have people leaving for work by 4:00am and getting home 11:30pm just to look for fuel, avoid queues and traffic, yet this donkey opens his mouth to say trash.

With full chest.... The minister of petroleum should be sacked with immediate effect.. I don't know what he is doing to curb dis ugly situation... Ooops dem say minister of petroleum na buhari oh

Subsidywise20:


Sorry, but I don't support Obi either, or Atiku.

You people should stop supporting the old. See as we tried old man Bubu for 7 years now...and here we are.

I don't discriminate base on Tribe, Age or color because we so much useless Young people from every tribe and color.

The youths don't need power to save this country but to work. Really work.

Then, shut down government until then. Will Tinubu say a word about this? No! Will he ever speak for Nigerians? No!

The Lekki incident should serve as a precedent to his rule. He will spray live bullets into y'all. You will die like birds.

The grandpas will do anything for power. Your life means nothing.

Subsidywise20:
Deregulation is the answer, but the government and the opposition are both waffling and wobbling over the matter, because politics.

At the end, if you want no queues, remove subsidy, remove government money, make NNPC private, and see if those dead refineries won't come roaring back, and new ones won't come up in minutes....

Yes, high prices, but yes...possible increase in investment and jobs, and government saves money.

before embarking on this there are other issues that has to be sorted out if not we will experience an uncontrolled hyper inflation. there are policies that need to be effective before deregulating, Nigerians purchasing power right now is low.

Black man dey live near water yet him dey always thirst

See the kind country where I dey. A supposed minister saying rubbish

Look at this corrupt bastard.

Is he threatening us?

This country should just disintegrate, what's all this nonsense.

Our minister of petroleum should resign immediately.Buhari never perform as president,he come carry ministeral job add to himself..

Why are these people so heartless and evil. We have never had it this bad. Abacha is even better-off than everyone of them.

Bizibi:
before embarking on this there are other issues that has to be sorted out if not we will experience an uncontrolled hyper inflation. there are policies that need to be effective before deregulating, Nigerians purchasing power right now is low.

And we are experiencing inflation and budget deficits in part because subsidy....

Choose yer difficulty.

9jii:

I don't discriminate base on Tribe, Age or color because we so much useless Young people from every tribe and color.

The youths don't need power to save this country but to work. Really work.

Yeah, but at the end, we need new blood.

Nigerians Una go hear word by force!

I dont even knw why Obi is stressing himself over fixing this godforsaken dead country whn its very clear fulani will not let the election happen.

their oga is already freeing all their foot soldiers in detention in preparation of the great war they will wage on the nation come 2023.

am just working on escaping to cameroun by dec. 2022.

Sixfiguresmart:
Then, shut down government until then. Will Tinubu say a word about this? No! Will he ever speak for Nigerians? No!

The Lekki incident should serve as a precedence to his rule. He will spray live bullets into y'all. You will die like birds.

The grandpas will do anything for power. Your kofe means nothing.

It's an open secret and a known fact that tinubu is worse than buhari

That one might not even address Nigerians on democracy day if he becomes the president (God forbid)

I just can not reason what's going on in this country anymore.

Dj! Just play me "things fall apart" by Regina Daniels and mc oluomo.