The Leadership of the Nigeria Union of Petroleum and Natural
Gas (NUPENG) believes that total deregulation of the downstream sector
and complete removal of fuel subsidy will solve the nation’s prolonged
fuel crisis and scarcity.
Fuel queues are beginning to return to some service stations in
different Nigerian States, as a result of a perceived scarcity of the
product. The development led to the statement by NUPENG.
Total Removal Of Fuel Subsidy
Addressing reporters in Owerri, the capital of Imo State on Saturday,
the National President of NUPENG, Mr Igwe Achese, said that Nigerians
would continue to experience scarcity and inflation in prices of
petroleum products from time to time unless the Nigerian National
Petroleum Corporation (NNPC) returned to its statutory role, as the sole
importer of petrol.
Mr Achese lamented the lack of political will on the part of the
government over the total removal of fuel subsidy on imported and
refined products.
He further stressed the need for the government to create an enabling
environment to encourage private sector’s interest in building
refineries in Nigeria for the purpose of improving the local refining
capacity to meet the ever increasing local demand of petroleum products
and indeed for exportation purposes.
Meanwhile, the (NNPC) said it had injected additional volumes of Premium Motor Spirit to enrich product availability in some major cities with noticeable fuel queues.
In a statement by its Group General Manager, Group Public Affairs
Division, Ohi Alegbe, the NNPC said that the measure was in line with
its drive to ensure zero fuel queues ahead of the forthcoming yuletide
and beyond.
It said there was no cause for panic buying, insisting that the scarcity was artificial.
Source: Channels News
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