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Business News of Wednesday, 8 February 2023

Source: www.legit.ng

NNPC promises to end fuel scarcity as Lagos, Kano others get 450.92 million liters of petrol in one week

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The Nigerian National Petroleum Company (NNPC) Limited has apologised to Nigerians over the four-month fuel scarcity difficulties faced by Nigerians.

Mele Kyari, the Group Chief Executive Officer tender the apology on Tuesday, 8 February 2023 during his guest appearance on Channels Television’s special programme “The 2023 Verdict.”

Kyari also assured Nigerians that the NNPC was working round the clock to resolve the issue, promising that the cause of the scarcity would soon be sorted out and normalcy restored as soon as possible.

His words: “I apologise for the situation. On behalf of all of us, the stakeholders in the oil and gas industry, definitely, not surely exclusive. Having said this, it is unfortunate. It’s a glitch; we are responsible for [resolving] this glitch. We will resolve this."

"I promise within the next one week, Nigerians will begin to see a major turnaround as efforts to address this scarcity have reached top gear. “Within the next one week, you will see a change."

He, however, didn’t promise the elimination of queues at petrol stations nationwide but promised that massive changes would be felt in the coming week, Punch reports.

“I’m not saying that you’re going to have zero queues within the next one week,” he explained.

“No, I can’t guarantee that because a number of things are out of our control.”

Furthermore, the NNPC boss revealed one of the strategic solutions the organization has embarked on to sort out this crisis is increasing supply from 63 million litres per day as of January.

“We’re ramping up the evacuation today. On a daily basis, we are doing more than 70 million litres into the market against the regular evacuation of up to 63–64 million litres.

“This will work, and we believe that the ease that we’re seeing in many locations today—I don’t want to cite specific locations, but I know that we’re seeing ease across the country. This is easing up.”

Legit.ng checks on the NNPC website show that NNPC in fact in one week (28th January to 3rd February 2023) 450.92 million liters have been distributed across the country.

Lagos, FCT, Oyo, Ogun, and Kano received the highest allocation of petrol products distributed across the country.